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

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Nigeria’s Vanguard Newspaper reports that, 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.”

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