Home Oil & Gas Nigerian oil marketers strike threat over subsidy flops

Nigerian oil marketers strike threat over subsidy flops

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Indications emerged yesterday that the seven days strike threat oil marketers gave the Federal Government to settle their N800billion fuel subsidy may not hold water due to aggressive moves by the Nigerian National Petroleum Corporation to quell the crisis as well as a seeming vote of no confidence on the exercise by some of the marketers.
Ndu Ughamadu, spokesman of the NNPC, told DAILY INDEPENDENT that the corporation is engaging marketers’ bodies, Federal Ministry of Finance and Debt Management Office on the issue.
He expressed optimism about the prompt resolution of the matter and urged Nigerians not to embark on panic buying of petroleum products due to the planned strike.
He added:” Going by 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 sufficiency level. Consumers should not panic.
Besides, our correspondent gathered that the Independent Petroleum Marketers of Nigeria (IPMAN) have backed out of the planned strike of other marketers on the ground that it was ill-timed.
Some of the marketers also said the exercise was needless since the Nigerian National Petroleum Company is the sole importer of fuel into the country
Oil marketers under the Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPPMA) and the Independent Petroleum Products Importers (IPPIs),had Sunday gave the Federal Government seven days to settle the N800 billion subsidy debt owed them under the Petroleum Support Fund.
The embattled marketers, who conveyed the action through Mr Patrick Etim, the Legal Adviser to Independent Petroleum Products Importers (IPPIs) on Sunday, said that failure to meet the deadline will force its members to disengage their workers which would obstruct loading of petrol at depots in the country.
He explained that the development became necessary as all investments and assets of oil marketers are been taken over by banks, while payment of workers’ salaries remains uncertain.
SOURCE; independent.ng

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