The Nigerian National Petroleum Corporation (NNPC) has assured petroleum products consumers across the country not to engage in panic buying as it holds 2.6billion litres of Premium Motor Spirit otherwise called petrol and 90,000 metric tonnes of Dual Purpose Kerosene (Kerosene), saying the holding is expected to last 52 days, assuming no single drop of products is imported from now.
Oil Marketers under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Products Marketers Association (DAPPMA) have appealed to the Federal Government for prompt payment of over N800 billion outstanding subsidy debts to save marketers from total shut down of operations.
The nationwide fuel scarcity might get worse in two weeks, following the latest threat from depot owners.On Tuesday, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) gave the federal government a 14-day ultimatum, to settle a N650billion debt allegedly owed its members.
…Ask FG to deregulate oil sector
FOLLOWING the Senate Committees’ meeting with major petroleum industry stakeholders which successfully persuaded the petroleum tanker drivers, PTD-NUPENG and NARTO to call off their strike on Monday, 25th May, 2015 and resume loading of fuel, depot owners and other fuel importers under the petroleum subsidy scheme yesterday said they are still being owed over N291billion in unpaid subsidy reimbursement, interest on delayed payment and foreign exchange differentials. This is as they also called on the Federal Government to deregulate the sector.