One of the major challenges the Nigerian downstream petroleum sector is still facing is the non-payment of the long standing fuel subsidy to oil marketers.
Adewale Sanyaolu
The Major Oil Marketers Association of Nigeria (MOMAN) has appealed to the Federal Government to come to its aid by settling in full, the N130.7 billion subsidy arrears owed its members.
Addressing the media in Lagos yesterday, Chairman of MOMAN, Mr. Andrew Gbodume, said the debt profile was taken a negative toll on the day-to day operations of member companies.
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He explained that the National Assembly had in the first week of July this year, approved payment for oil marketers, worrying that, three months after oil marketers were yet to be paid.
The MOMAN boss noted that, though the process of getting final approval from government coffers could be cumbersome, he nevertheless, pleaded with all relevant…
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