The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA) has opposed the Federal Government’s decision to pay its N800 billion debts in tranches.
In a statement made available to newsmen, DAPPMA opposed the government’s decision to pay its members a part payment of N236 billion through promissory notes.
According to the Executive Secretary, Major Oil Marketers Association of Nigeria (MOMAN), Clement Isong, the planned part payments were among the issues being considered in the ongoing talks.
However, the oil marketers have unanimously suspended their earlier directive to shut down depots nationwide and have given the Federal Government a five-day grace to pay the outstanding debt which it owed the marketers.
DAPPMA’s Executive Secretary, Olufemi Adewole, disclosed that the shutdown was suspended for five days to give the Federal Government time to fulfil its promise.
The association stated that its latest decision was due to the intervention of well-meaning Nigerians including the National Assembly as represented by the Senate Committee on Petroleum Downstream and the constructive engagement of the Federal Government team by the labour unions most affected by the disengagement of DAPPMAN’s personnel.
DAPPMAN said that it had resolved to recall its disengaged personnel within five days, to give the Federal Government’s team the opportunity to conclude its process of paying marketers the full outstanding of N800 billion with the first trench being the amount already approved by the Federal Executive Council.
It said it acted in good faith to avoid unnecessary hardship which could befall Nigerians during the Yuletide, adding that
“We hope that the government would make good its promise to see that those issues are resolved by Friday, December 14, as promised.”
The association said its disengaged personnel would be recalled on Monday and stated that considering the reactivation time or hitherto shut down the system, all depots with fuel stock should be fully active same day.
It said the payment of the debts would curtail the continuing wastage of public funds as interest accruing on the over N800 billion debt.
Nairametrics had reported that DAPPMA directed all its members to shut down operations at midnight of Sunday, December 9, 2018, until the Federal Government pays all the outstanding debt which it owed the marketers.