Marketers Threaten Fuel Scarcity Could Hit This Weekend

Daily trust informs that the continued increase in queues at filling stations is due to continue for a while yet. 

It was gathered that marketers are being owed outstanding subsidy debt of about N150bn while a source revealed that subsidy debts under President Muhammudu Buhari has risen by almost N59bn.

Fuel scarcity

For the last two months, marketers have stopped importing petroleum products and are concerned the government might not pay the debts beyond the outstanding one left by the Goodluck Jonathan’s administration with mounting foreign exchange differentials.

Marketers are therefore not willing to import petroleum products with their own funds until their current bills are settled despite the continued silence from the Buhari administration, a source revealed.
It is believed petroleum products would be exhausted by the weekend despite the latest influx of importation coming at the twilight of the previous government.

A source who spoke to the Daily Trust said: ‘’The product imported by some independent marketers few weeks ago would be exhausted by this weekend. This would no doubt throw the whole nation into another round of fuel scarcity.”

Executive-Secretary of Depot and Petroleum Products Marketers Association (DAPPMA), Femi Adewole said marketers have been constrained by the  unpaid subsidies adding that the the current foreign exchange crisis and failure of banks to give loans to his members makes it almost impossible to  fuel.