N800bn subsidy debt: Oil marketers meet finance minister, CBN to avert fuel scarcity

Nigerian oil marketers on Thursday met with Finance Minister Zainab Ahmed, the officials of the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) to reach an agreement over a disputed N800 billion fuel subsidy claim with a viw to avert fuel scarcity during Christmas and New Year celebrations.

The minister, accoridng to a statement from the ministry, was represented by the permanent secretary in the ministry.

The oil marketers on the platform of Depot and Petroleum Products Marketers Association (DAPPMA) and Independent Petroleum Products Importers Association issued a seven-day ultimatum to the government to pay the debt or risk a shutdown of all depots and fuel distribution outlets nationwide.

“Minister of Finance, represented by PSF, CBN, DMO and others met and agreed with the Depot and Petroleum Products Marketers Association, Major Oil Marketers Association of Nigeria, Independent Petroleum Marketers, that operations at all depots and sales will continue,” the ministry said.

“Oil marketers have all agreed that operations at all depots and sales will continue unhindered.”

“Members of the general public are hereby reassured of the availability of PMS as there will be no fuel scarcity.”

Mrs Ahmed said the government will continue the engagements with the marketers.