‎Oil marketers oppose labour strike, say they have lost N320bn to government-imposed prices


‎Oil marketers in the country, under the aegis of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), have said they lost over N320bn worth of investments due to government-imposed product prices in the oil and gas sector.

The marketers, who kicked against the planned industrial action by the Nigerian Labour Congress over hike of petrol pump price and electricity tariff, ‎said they will be forced to lay off staff as the business terrain across the country is becoming increasingly difficult.

They urged the NLC and its allies to shelve the proposed industrial action.

‎NOGASA spokesman, Ukadike Chinedu, who raised the marketers concerns in a statement issued in Abuja‎ on Thursday, said many oil marketers were no longer trading as a result of the heavy losses‎.

See also  Osun State governor's Deputy Chief of Staff charged over alleged $120,000 fraud‎

“Some of our concerns are heavy losses of over N320bn investments from product purchases at government specified prices and sales at compelled price reductions, which could not be justified by the costs of transaction,” he said. ‎

He also disclosed that many members of the association are closing their businesses due to losses.

Untitled Document

You can always reach us through these channels

Facebook: https:/www.facebook.com/ancitymedia

Instagram: https://www.instagram.com/ancitymedia

Youtube Channel: https://youtube.com/@ancitymedia


Phone Numbers: 07062501185, 09038738731

E-Mail: info@ancity.com.ng, anambracity@gmail.com


This Post: ‎Oil marketers oppose labour strike, say they have lost N320bn to government-imposed prices was approved and published by Ancity Media Editor and may not be republished elsewhere without prior written permission from the Editor.

See also  Edo wants Buhari to extend the Itakpe-Warri Rail line to Benin Industrial Park

Get real time updates directly on you device, subscribe now.


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More