Fuel depots may shut down March 7

Owners of fuel depots have threatened to withdraw their services by March 7, 2018 if the Federal Government fails to settle the N650 billion debt owed them.

They gave the 14-day ultimatum on Wednesday under the aegis of the Depot and Petroleum Products Marketers Association of Nigeria.

DAPPMA Executive Secretary, Olufemi Adewole, said in a statement that they were no longer ready to tolerate the lingering debt over which they had made several representations to the Federal Government.

Adewole said: “The unfortunate primary fallout of this step is the likely shut down of all DAPPMAN depots nationwide due to lack of manpower to operate same pending the time the federal government will pay off its indebtedness to petroleum marketers.

“This unfortunately will have a multiplier effect on the nationwide supply and distribution of petroleum products which presently is still a struggle.”

He noted that it’s members were under threats from banks and the Assets Management Corporation of Nigeria, which were threatening to seize their tank farms and petrol stations over uncleared debts.

“In the light of the above and after exhausting all formal avenues to secure payment of these debts, we have given government notice to the likelihood of disengaging our personnel.

He added: ”

The unfortunate primary fallout of this step is the likely shut down of all DAPPMAN depots nationwide due to lack of manpower to operate same pending the time the government will pay off its indebtedness to petroleum marketers.

“This unfortunately will have a multiplier effect on the nationwide supply and distribution of petroleum products which presently is still a struggle.”

 

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