May 25, 2015 – Petroleum marketers in Nigeria have agreed to lift Premium Motor Spirit (PMS), better known as petrol with immediate effect.
This is coming just as pump price of fuel has hit N600 per liter with notable organisation rendering only skeletal services in Nigeria due to current fuel scarcity, while some are shutting down operations.
The marketers who met with Minister of Finance, Dr. Ngozi Okonjo Iweala and Chairman of the Senate Committee on Downstream, Mr. Magnus Abe and other top government officials agreed to resume lifting of fuel after top government officials, assured them that outstanding payment on subsidy would be transferred to the General Muhammadu Buhari’s administration.
Addressing journalists after the meeting, Chairman, Senate Committee on Downstream, Mr. Magnus Abe, said that the Department of Petroleum Resources (DPR) would immediately revoke the license of any oil marketer that refuses to lift petroleum products in the next six hours.
“ We have agreed on the following first is that the Minister of Finance will give an undertaking to the Major Marketers and Depot Managers that the work of the committee being headed by the CBN and PPPR, on the outstanding claims, would be concluded and be reflected in the hand over notes to the incoming administration,” Abe said.