Major Oil Marketers Association of Nigeria (MOMAN) on Friday (today) reached an agreement with the National Association of Road Transport Owners to suspend their strike, an official has said.
Nigerians have groaned under the weight of little or no petrol from the pumps and economic activities have been affected as a result.
Executive Secretary of MOMAN, Femi Olawore, elucidated on the latest standoff between the government over outstanding fuel subsidy payment.
According to him, the marketers are owing members of the transport association about N20 billion and their inability to offset the debt prompted the suspension of the lifting of products.
However, he said, following the release of N154 billion to marketers by the Federal Government as part payment of the subsidy, they had in turn offset part of the debt they owed the transporters.
Olawore however said government had yet to redeem the sum of N200 billion it is owing the marketers as subsidy payment.
He said the marketers, with the understanding of NARTO members, had issued government with a grace of two weeks to settle the remaining payments.
“We have scheduled to meet with the Coordinating Minister of the Economy on Monday, but if the meeting fails to address the issue we have tabled, then we will continue with the action”, he warned.
Olawore said some of their marketers have received payment but warned that if the government refuses to keep to its side of the bargain in a fortnight, they’ll be shutting down services again.
Brace up for the longest month of your lives, Nigerians.
