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Petrol Scarcity Looms as FG N256.2 Billion Debt Threatens Fuel Importation

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Fuel-Scarcity

According to Vanguard, Nigeria may soon experience another instance of fuel scarcity because the federal government is yet to pay N256.2 billion debt it is owing the Major Marketers Association of Nigeria (MOMAN).

Consequently, MOMAN says it may be unable to import petroleum products.

Speaking on the issue, Executive Secretary of MOMAN, Obafemi Olawore said: “MOMAN is finding it difficult to continue its operations. The debts are rising. MOMAN is fed up with stock today, no product tomorrow. Soon we may have to rely on NNPC for supplies. This could be a problem because NNPC has issues with its suppliers over debt also.”
He further stated that “the industry is bleeding. Our suppliers are at our neck. As at April 22, what we have in our Apapa depots will only last for three and half days, which shows that our members are finding it difficult to bring in products. Presently, we are being owed N256.2 billion.”

9 Comments

  1. @edDREAMZ

    April 27, 2015 at 7:45 am

    a.k.a EDWIN CHINEDU AZUBUKO said…
    .
    Jonah administration really useless naija i swear but thank God change is nw hear…. Sai buhari…
    .
    .
    ***CURRENTLY IN JUPITER***

  2. S!

    April 27, 2015 at 8:21 am

    Father take the wheel!

  3. JAYNNE

    April 27, 2015 at 8:38 am

    LORD HAVE MERCY ON US

  4. Tosin

    April 27, 2015 at 8:58 am

    holidaaay!
    just kidding.

  5. lol

    April 27, 2015 at 10:15 am

    Stealing bad much as they can before the end of May

  6. adelegirl

    April 27, 2015 at 11:59 am

    “Petrol scarcity looms” bawo? Is it just “looming”? For us in Abuja, we have been battling petrol scarcity and the attendant long queues at fuel stations for six weeks and counting. I can’t imagine how much worse it’ll become now with this news… 🙁 :'(

  7. Naked

    April 27, 2015 at 1:58 pm

    I just hope this inept Jonathan administration will not cause major problems for the incoming buhari administration. Voting out Jonathan is one of the best achievement of the 21st century.

  8. Victor

    April 27, 2015 at 2:43 pm

    Current Government in Nigeria. ‘Irresponsible’ How can fuel scarcity persist, indefinitely. Colossal man-hour lost to queues at gas stations.

  9. UC

    April 27, 2015 at 6:30 pm

    It is a pity that an oil producing country is importing oil.. We need to buckle up before it is too late for us.

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