Fuel Scarcity Rises As Marketers Stops Importation

The shortage of petrol rises all over the country as oil marketers reveals their intention to shun the importation of the products,

 

Those that market oil products said that they regret not being able to secure loans and funds from banks due to the   N660 billion debt owed by the government.

Oil Marketers under the aegis of Depot and Petroleum Products Marketers Association (DAPPMA) said that the N660 billion debt owed them by the Federal Government for products already imported, coupled with interest on bank loans had been their major hindrance to petroleum importation.

According to Olufemi Adewole, the Executive Secretary, he said that " most marketers stopped importing fuel because the government refused to pay the outstanding debt owed".

He also added that,"the main debt owed by the government to the members of DAPPMA,is over N500 billion, which has acquired an interest of N160 billion from the loan"

he said that the queue at the Apapa depot was due to marketers’ inability to import petrol, and that the current marketer dynamics made it difficult for marketers to import petrol.

Olufemi Adebowale concluded that most marketers in Nigeria that wants to import petrol  now depend on the Nigerian National Petroleum Corporation, NNPC.