Fuel Subsidy Debt: Marketers receive N236bn promissory notes

Tankers at a NNPC depot
Tankers at a NNPC depot

Petroleum products marketers on Monday confirmed they have started collecting the N236 billion promissory notes for their outstanding subsidy debts. The payment is an implementation of the federal government’s promise to pay them latest last Friday.

The Executive Secretary, Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Olufemi Adewole, told PREMIUM TIMES in an interview that marketers began to collect the payments on Friday.

“I can confirm to you government made good its promise to deliver promissory notes to marketers on Friday. Our members have been collecting it. We appreciate government’s gesture, especially the president, who stepped in to ensure the matter was resolved amicably speedily,” he said.

After last Thursday’s meeting convened by the Debt Management Office (DMO) to address issues raised in a letter by DAPPMA and other marketers on December 2 ended in controversy, the government offered to pay about N236 billion latest by December 14.

On the basis of the offer, the oil marketers withdrew that threat to shut down fuel depots and distribution outlets and plunge the country into another round of fuel crisis.

…More to come

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