The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) said it is in talks with commercial banks to facilitate the issuance of loans to its members.
NOGASA is the premiere organisation of suppliers in the nation’s oil and gas sector distribution service chain.
The association’s National President Mr. Benneth Korie who stated this after the association’s National Executive Council (NEC) meeting in Abuja added that discussions with the banks would be concluded any moment from now.
He said “We will complete the agreement whereby we will support any NOGASA member that wants to take loan from the bank by going to the bank to possibly stand for him and make sure he gets the loan. If he gets the loan, on our part, we are going to make sure that the product is delivered and the money is paid back to the bank. Am sure before the end of this month we will conclude with the banks.”.
Korie said the NEC also approved for the association to commence the issuance of Suppliers Trust Waybill which is what will be used to identify the association’s members that load product from government approved depot.
He said the NEC also approved that the NOGASA compliments government effort in reducing pipeline vandalisation.
Also approved, according to him, is the commencement of full supplies of petroleum products beginning from next Monday.