The Depot and Petroleum Marketers Association of Nigeria says the rise in landing cost of petroleum products has renewed calls for full deregulation.
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Isiaka Abudulrasaq, the Chief Financial Officer of NNPC, gave the assurance in an interactive session with journalists in Lagos on the corporation’s stewardship to Nigerians in Lagos on Saturday.
DAPPMA Executive Secretary, Olufemi Adewole, told the News Agency of Nigeria in Lagos that the settlement of the debts owed them would save their assets from being taken over by banks.
The marketers, under the aegis of Major Oil Marketers Association of Nigeria, made the call in separate interviews with the News Agency of Nigeria in Lagos.
The marketers under the aegis of IPMAN and DAPPMA told the News Agency of Nigeria on Sunday in Lagos that this was against the backdrop of fuel hike and frequent scarcity in the country.
Adewole said apart from the N600 billion the NNPC owed DAPPMA members, it also owe marketers over N800 billion.
DAPPMA’s Executive Secretary, Olufemi Adewole, in a statement in Lagos urged the NNPC to help the Association so as to alleviate the suffering of Nigerians.
Olufemi Adewole, the Executive Secretary of the association, told the News Agency of Nigeria in Lagos that the loading was going on in Lagos, Oghara, Warri, Calabar and Port Harcourt where the members had depots
The Depot and Petroleum Products Marketers Association on Thursday blamed inadequate foreign exchange facility from banks to the inability of…
He said the marketers were trying their best to ensure that scarcity of petroleum products was reduced to minimal level, but the only solution was for them to start importation
He said in the statement: “The former Minister of Finance and Coordinating Minister of the Economy, Dr Okonjo Iweala, in her letter to DAPPMA and the Major Oil Marketers Association of Nigeria did not state the timeline for the re-verification exercise on disputed subsidy claims
Olufemi said total deregulation of the sector would make the products available and encourage competition in the sector