Modular Refineries Urge Government to Slash Fees, Tackle Soaring Diesel Prices

In a bid to combat the surging cost of Automotive Gas Oil (diesel) in Nigeria, operators of modular refineries have appealed to the Federal Government to eliminate the multitude of fees associated with the locally refined fuel.

The price of diesel has been steadily climbing in recent months, inflicting severe hardships on diverse industries, particularly in the downstream oil sector.

Filling stations, in particular, have been grappling with operational challenges.

Oil marketers have explained that the exorbitant diesel prices hinder the transportation of products from South-based tank farms to North-bound filling stations, necessitating price hikes to cover the costs.

Modular refinery operators, organized under the Crude Oil Refinery-Owners Association of Nigeria (CORAN), conveyed their plea during a meeting with the Minister of State for Petroleum Resources, Heineken Lokpobiri, in Abuja.

CORAN President, Momoh Oyarekhua, pointed out that the cumulative fees for each liter of diesel and kerosene amount to approximately N9.80. Removing these fees could play a pivotal role in lowering diesel prices and reinvigorating various economic sectors.

In light of the current diesel crisis and petrol shortages in the Federal Capital Territory and nearby states, the government’s response to this call is eagerly anticipated.