Nigerian oil marketers on Wednesday declared that they can no longer sustain the distribution of petroleum products across the country.
This is due to the increase in the cost of diesel, which these marketers use to power their trucks.
The product now sells for ₦1,100/litre in many locations.
The marketers pointed out that the federal government must intervene urgently in order to arrest the situation.
This is the position of the marketers, under the aegis of Natural Oil and Gas Suppliers’ Association of Nigeria (NOGASA).
They raised the alarm in a statement signed by their President, Benneth Korie.
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They cried out that diesel has witnessed an incessant hike in prices in recent months.
“NOGASA is worried about the ugly development and trying to understand why prices of diesel are going as high as N950 to N1,100 per litre in the market with a view to moderating the prices and shocks in the economy.”
In another development, the Nigerian National Petroleum Company Limited (NNPCL) has announced the exit of its top management staff who have less than 15 months to retire.
In a statement, the company said the new reshuffling was in line with its aspiration to rejuvenate its workforce.
“In our bid to pursue effective organisational renewal to support the delivery of our strategic business objectives, it has become imperative to rejuvenate our workforce,” the statement read.
The organisation said the shakeup is in line with its commitment to “scale up NNPC Ltd.’s capabilities through targeted talent management and equal opportunity for all Nigerians.”
The development comes days after the oil company announced the removal and replacement of three of its Executive Vice Presidents (EVPs).