Fuel scarcity may persist beyond May 29 – Major marketers ….. PREMIUM TIMES

fuel queueMajor oil marketers and depot petroleum products marketers on Thursday said that the current fuel scarcity in the country might persist beyond May 29, if the Federal Government failed to pay their outstanding claims on subsidy.

The Executive Secretary of Major Oil Marketers Association of Nigeria, Obafemi Olawore, disclosed this at a media briefing with the newsmen in Lagos.

Mr. Olawore said the outstanding payment on subsidy and interest remained unpaid by government and this had led to its members’ inability to import petroleum products in the last few days.
According to him, the scarcity may also persist beyond the hand over date that will usher in a new political administration of Gen Muhammadu Buhari (rtd).

“Because of the huge outstanding that we have; because we have not been able to pay back the loan we have taken, because our suppliers are not too confident, we are unable to bring fresh import.

“Whatever we have now is what we have received from NNPC and it is the small quantity that we have from NNPC, that is why you see all the trucks in Lagos scrambling for them.
Mr. Olawore said unless the over N200 billion that the government owed both MOMAN and DAPPMA was paid, scarcity might persist beyond May 29.

The Executive Secretary of Depot and Petroleum Products Marketing Association (DAPPMA), Olufemi Adewole, also said the Federal Government owed its members more than N200 billion.
He said that out of its 40 members, only 24 participate in the subsidy programme, adding that all its members had been paid subsidy while only six out of 24 had been paid their interest.

The Finance Minister and Coordinating Minister for the Economy, Ngozi Okonjo-Iweala, had on May 3, said the Federal Government was not owing the marketers up to N200 billion.
She said that after paying the marketers N154 billion a week earlier, the government was only aware of N131 billion outstanding payment.


1 Comment

  1. Who is saying the truth here? Ngozi Iweala is the one not saying the truth.Ngozi Okonjo Iweala is toiling with the lives of Nigerians. GEJ’s exit into power is worse than his entry.

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