 Now, there's a possibility, according to the Natural Oil and Gas Suppliers Association, hinting of an increase in the price of diesel in the country. The national president of Nogasa, Bennett Corey, said, if you go around now, you will see that about 75% of filling stations in Nigeria have gone out of business, and there is no diesel to take fuel to their stations, all of them are going down. That is not that fuel is not there, but the cost of bringing it to the station is too high. We know that crisis between Ukraine and Russia has contributed badly, but the government has to do something fast. Otherwise, we're going to buy diesel in the next two weeks at 1,000 to 1,500 nair per liter. As far as I'm concerned, nothing for now. The only way out is if you want to know is that the government should increase the price of fuel, a little to reduce the money spent on the PMS subsidy. I know Nigerians will not be happy to hear this, but this is the only solution. They should increase the price of fuel a little so that the savings will enable the central bank of Nigeria to have enough foreign exchange, according to Corey, if the government could bring down the rate at which it's spending foreign exchange on PMS import, it would help all the businessmen who import diesel to bring in products at low prices. We do have Chief John Keke Ocha, Ipma National Secretary joining us this morning. Let's go to him. Have you joined us and be part of the conversation? Thank you. Thank you. All right. Chief John Keke Ocha. Can you quickly tell us what exactly the situation is with diesel right now in Nigeria? The situation is just very complicated. It is just a reflection of our homelessness in the Nigerian society. It is just one more for Nigerians to ensure that the refugees are working. And because the refugees are not working, we don't have any option than to import products. And business has to deal with the dynamics of demand and supply. Because of the Ukraine-European crisis, it has affected globally. But for countries that do production in their area, this dynamic does not play much. But because we are dependent on the population, even when we have the panellists that are not working, we don't have anything other than to shape the crisis as it is. Absolutely all of us are aware that the Nigerians have lost much value. And of course, if we are going to import goods, we have to import it at the international market. And this has to do with the cost of the dollar, just like the Nigerians. People of all that are aware that it is very, very difficult. So we don't have any choice because this is the situation we have created for ourselves. If we had our panellists working, the crisis in the Ukraine-Russia program, we wouldn't have affected us. And all of us know that the digital has been regulated. By the regulation, it means you have the right to break your digital at any time you can and sell at any price. But because we are not producing, we don't have any option than to import. And this means we must take the means we have to take. Yes, it means strongly believe that in the short term, digital will break up to one thousand or more. But we have a new choice. We don't have a new choice because we didn't plan ourselves properly. We are working this crisis today. So we don't have any option that we take with headlong. We take God's place as the Ukraine-Russia work comes to an end. And the situation is normalised. But however, the end point is that Nigerians must work hard. And ensure that our panellists are working. The Ukraine-Russia work has come. If we possibly come and go, another issue might arise. But if only we attract the same and we'll come back to the same situation. So the best bet is our paradise must work. That's the situation. I'd also like you to, you know, further explain if the situation that we have at hand instead of having businessmen, I mean those who are importing diesel because we know that there's no subsidy for diesel. And this persons who are importing this product, asking that the government should subsidise it because you understand at the end of it you would have the masses paying seriously for the brunt of it. So could you also be the concern of some business persons who are thinking that, hey, government should bear the brunt because if you look at it, the cost of this is also a global concern. And it's not just limited to Nigeria as well. So why do you have the marketers in the middle of this? The market has not much to do. In possession of products at this time, especially it has to do with diesel. And because most of the product has to be regulated anybody can import diesel into the country. So it's not a bad market. Yes, it is not easy for the government to stay there ahead to subsidise diesel. Because as we speak, fuel is being subsidised. Nobody talks about curating. Nobody talks about regulation here. Nobody talks about the modern ancillary product that come out from the final. We are clamouring the cost of diesel because both of them just trade and come to this value. A lot of them are folding up. Despite the situation, the best bet of this company is you want to wake up and do the rituals. Market has not much to do because the only source of diesel comes from the government. So that's the situation. A situation where many public stations are closed up. If you buy diesel and run your stations for a day, what you make is not commensurate with the cost of running the stations. That's how we talk about the first crisis. Many stations are closed because they can no longer assist them because of the cost of diesel. It is a chain reaction and it will continue to go like that. It's not a marketer's problem. It's the consequence of slandlessness. It's not a marketer's problem. Are you also saying that it's not also a concern that diesel should be subsidised? It's not that that's what marketers are asking for. Away from that, you also have the natural oil and gas suppliers association president saying that the only way to solve this issue of not having to buy diesel at the price that it's been put out for a thousand Naira, 2,500 Naira per litre is that the government should increase the price of fuel per litre. That would help. How does this solve the problem? It does not immediately help the situation. It does not immediately help the situation. Increasing the price of fuel goes for that increase the price of Nigerian oil and increase the content of those companies and the industries that use diesel equally. Everything boils down to increasing the debt. If you're not sure, you can make up the concept. We are too pleased to do the initial and the value chains are becoming very bad. That is why when we said we should be regulated. Regulation cannot function if the farmers are not working. If the farmers are working looking at production, these figures can be equally important. There's on dynamics of demand and supply for those prices can come down. But the situation where you go and be regulated and you don't produce definitely you must take good care of the prices. It's negligible. Let's even go further with this argument. You have the president like I've mentioned. He's saying that the increase in the price of fuel, the lethal, would also help in enabling the central bank of Nigeria have enough foreign exchange. Because the issue right now is a foreign exchange concern. If the government increases the pump price of petrol, there's an increase in fuel price a bit. It would help in savings of foreign exchange for the central bank. It would also make it easy for products to actually come in. You're saying that that doesn't solve the problem it would cost more hardship. I'm wondering why there's no unism because the natural oil and gas supply association president is thinking differently and you are also thinking differently. How do we help us understand the situation better? When you say you should increase the price of fuel in order to as such depend on the profession of business. It's still one and ten times the same situation. If you increase the price of fuel you are making the people to suffer more. Absolutely. Nigeria depends on fuel for each movement. Nigeria depends on fuel for the household business. If you go and increase the price of fuel you have to further increase the price of Nigeria's existence. Even at the price of a foreign exchange people are shouting. Go and increase the price of fuel further. You are cutting for prices. Yes, we accept the fact that the digital cost is very high. But if you check the percentage of Nigeria that none of the digital is affected. Absolutely the number of people affected by the high cost of fuel is quite very high. Go and increase it further and you see that the economy is crashing. And the suffering of the people will increase. We must do the research. We must ensure that we are looking forward and see how our economy will work. That is the best way to implement the problem. But do you think that having our refineries functional up until now we are talking about how long have we gained independence and we don't really have a refinery that is able to help us refine our products. That is something to import. How can that be? We are talking about in the next two weeks that people would have to buy this product. A lot of businesses are very dependent. Apart from the filling stations themselves you have this business. Several businesses are dependent on diesel. How much of this diesel can these businesses afford this rate looking at all of that? It is going to be a catastrophe. But the concern here that has been raised is that foreign exchange is the problem. Foreign ending is the problem. That is why the proposition is saying that government could bring down the rate at which it spends foreign exchange or spending on foreign exchange on PMS imports. If we would do that it would help all the businessmen import diesel to bring its product at a lower price. That is why I brought the question to the fact that businessmen are not willing to take the brunt of how the economy is turning down and then they are pushing it back to the government to push it back to the citizens and then the people would suffer. That is on the one hand. On the other hand, do you think foreign exchange is also a problem right now? Absolutely. Which of them? Absolutely. The foreign exchange is quite very high. Our Nigeria is losing value every day. What can we do? If we stop the economy, it is not your plan. Our dependence on oil has been very high. Oil becomes one of the primary source of income of this country. And therefore, if anything affects oil, it affects the economy negatively. You understand? So, if we don't look inward and see how we can make our economy improved, this has been the dynamic of the international economy, this is the time we will all lose to the accord. You know to our vets this situation right now. There is no immediate, there is no fire brigade approach to solving this problem. There is no fire brigade approach to solving this problem. Because these kind of solutions are something we would have expected long before now. But we assume it before our notes. So, definitely Nigerians are facing it. That is why when we want to look at the government, we must look at government that has taken us. That knows what it takes to harness the economy, think inward, and know how to ensure that immediate crisis like this does not arrive. But if we don't go anywhere, we will always have this kind of crisis. That's all right. Well, thank you so much, Chief John Kinkautra for being part of the breakfast this morning and sharing your thoughts and giving more insight to the possibility and the issues surrounding diesel, scarcity and the increase in its price. Thank you so much. We wish you the very best as you go about the cost of your day. Thank you very much. All right, so Chief John Kinkautra is the Ipman National Secretary. Once again, thank you. That's the size of our conversation this morning. On the breakfast, if you missed out on any part of it, it will be all right to be part of the conversation via Twitter, Facebook, Instagram, and do subscribe to our YouTube channel Plus TV Africa and Plus TV Africa Lifestyle. I am Messi Hohu. The news comes up at 9 o'clock, still with us.