
The NOGASA President has made an urgent call for a declaration of a state of emergency on Nigeria’s refineries to stabilize the national economy. He stressed the importance of fully operating these facilities to reduce import dependence and maintain stable prices. Challenges to overcome include exchange rate instability, impacting the cost of operations, and the need to reintroduce compensation for fuel transporters. Nigeria’s oil and gas sector faces a looming crisis requiring rapid action to ensure its long-term viability.