Home Oil & Gas NNPC engages DMO, finance ministry to avert depots shutdown

NNPC engages DMO, finance ministry to avert depots shutdown


The Nigerian National Petroleum Corporation (NNPC), Monday began engagement with the Federal Ministry of Finance, Debt Management Office (DMO), Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPPMA and Independent Petroleum Products Importers (IPPI) to avert the shutdown of petrol depots across the country.
It was learnt from the Group General Manager, Group Public Affairs Division of the corporation, Ndu Ughamadu that there is assurance the issues will b e resolved amicably soon
The NNPC spokesman, in a text message, said there was no cause for alarm, saying the corporation has sufficient stock level.
The message reads in part: “NNPC is engaging marketers bodies, Federal Ministry of Finance and DMO on the issue. Going by the positive outcomes, so far, we are optimistic of a prompt resolution of the contending matter.
“No cause for worries. We have a robust fuel stock and high fuel sufficiency. Consumers should not panic.”
The marketers had on Sunday in Lagos given the government a seven-day ultimatum to pay them the outstanding N800billion debt of fuel subsidy claim.
They warned the government that its failure to settle the debt would result in the withdrawal of their staff and closure of their depots.
It would be recalled that the marketers had this same time last year created an artificial fuel scarcity that resulted in arbitrary high in pump prices of the Premium Motor Spirit (PMS) all over the country.
The scarcity lingered till about December 23 before the marketers opened up that the Federal Government was owing them N800billion for supplying petrol under the fuel petrol subsidy regime.
Initially the government denied owing them and later settled the matter after several meetings.


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