N800 million debt: Oil marketers sack staff, shutdown loading depots nationwide
Admin l Monday, Dec.10, 2018
LAGOS, Nigeria – A major fuel scarcity is now imminent in major Nigerian cities just 14 days to Christmas as oil marketers under the auspices of Depots and Petroleum Product Marketers Association of Nigeria(DAPPMAN) have effective yesterday, Sunday, December 09, 2018 shut down all depots across the country.
Executive Secretary, DAPPMAN, Olufemi Adewole who made the revelation in a statement said the association took the decision having ‘disengaged’ all staff and consequently had no option but to shut down all depots with effect from midnight Sunday, 09, 2018.
He said the depots will remain shut until the Federal Government is able to pay all the remaining subsidy debt with forex differential including interest up till December 31, 2018.
The Federal Government of Nigeria is indebted to the marketers to the tune of N800 billion in forex differential and accrued interest. The initial sum according to the marketers was less than N350 billion at the inception of the administration that accumulated to N800 billion.
