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Fuel Scarcity Worsens | Oil Marketers Suspend Petrol Importation

BellaNaija.com

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Fuel-Scarcity

The fuel scarcity situation in most parts of Nigeria especially in Abuja and Lagos, has worsened, as oil marketers have suspended the importation of Premium Motor Spirit (PMS) into the country.

Some of the marketers told Vanguard that they took the drastic action, as the federal government has failed to pay them the money being owed.

An unnamed source in the Depot and Petroleum Products Marketers Association (DAPPMA) stated that a majority of the oil marketers are yet to be paid by the government, making it impossible for them to secure fresh funds from the banks to finance fuel importation.

The source also said:

“The money that the marketers were paid by the Federal Government was, according to the banks, like a tip of the iceberg, compared to the huge amount the marketers owe the banks. Majority of the marketers are not able to repay their indebtedness to the banks, making it impossible for them to secure new facilities from the banks to finance fuel import.

We want the Federal Government to pay the debt owed marketers as it is only then will we be able to repay our debts to the banks and secure fresh credit facilities from the banks to enable us finance our fuel import.

We have approval to import fuel, but we do not have money to finance the import. The banks told us that they have a ceiling for borrowing and they have reached their borrowing limit, with oil companies accounting for a substantial portion of the loans.

We are asking the Federal Government to pay us the claims we are being owed so that we can have money to offset our debts and finance fuel imports.”

9 Comments

  1. bbbsmiles.blogspot.com

    May 12, 2015 at 8:52 am

    Nigeria is just on a stand-still. hmmmn Na wa oooooo.

    bbbsmiles.blogspot.com/2015/05/the-task3.html

    • Tosin

      May 13, 2015 at 9:52 am

      i visited your blog 😉

  2. All the way from South Africa

    May 12, 2015 at 9:43 am

    Time and time I go to the website to read about Nigeria and I must say it such a disgrace to see what the Government of Nigeria does to it own people. You’re suppose to be richest country in Africa and yet you run shot of fuel, my word look at these long queus and worse the civil servent salary is a borrowed money and your country debt are in trillions. You guys are so quick to point out when you see something going wrong on in SA but why can’t fight for good life in your own country that you being deprived off and someone is eating that money is that been made from oil. Look at the roads there such digrace as well. This just tells me that corruptions prevails at it worst level in that Nation, only few I mean very few are benefiting and that is why millions and millions of your country men flock into our country and some start selling drugs for living …………….SA has it own challenge but we way advanced in most of the aspect of life and we do enjoy a good quality life. Even there is development almost everyday…

  3. oy

    May 12, 2015 at 9:50 am

    issorait!

  4. zelda

    May 12, 2015 at 10:18 am

    trekkin tins

  5. darkchildlovethyhair

    May 12, 2015 at 10:41 am

    What a country *spits

  6. Lady Tee

    May 12, 2015 at 11:37 am

    This country na wa oooo!!!! Naija I don tire for una government o, they don mess up big time. As a South African married to a Nigerian man, I have seen this with my own eyes in Abuja, we had to buy black market fuel. Your international airport looks like our bus stations. You guys are lucky to have electricity for 3 hours in a day. In an area that is supposed to be affluent there is no water. I opened a tap in the bathroom and dust balls started coming out which shows that ware hasn’t come out in a while., there is a big blue tank of water outside. So if people in an affluent area live like that I wonder how the poor are living. The roads are a disgrace to say the least. I would never live in Nigeria Tufiakwa!!!

  7. Ife

    May 12, 2015 at 1:15 pm

    Nawa. no light, fuel inkwo na problem. I don’t even know what to do with my soups in freezer maybe I should sundry or I should start drinking them one by one.

  8. NEWSCRIB.NET

    May 12, 2015 at 1:43 pm

    GMB We cant wait o. newscrib.net

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