NewStats: 3,263,169 , 8,179,312 topics. Date: Wednesday, 04 June 2025 at 10:30 PM 356a6q

Nigerians may have to brace up for another round of petrol scarcity across the coun­try by Monday, as the Major Oil Marketers As­sociation of Nigeria (MO­MAN) yesterday, said it was practically impossi­ble for it to continue with petrol import as a result of the inability of the fed­eral government to clear subsidy debts amounting to N356.2 billion.

Indeed, MOMAN said the available stock of petrol at the Apapa, Lagos depot would have been exhausted by Monday after the week­end break.

‘‘From today (yesterday) what we have left as stock can only take us for three and a half days. So what that means in effect is that, by Monday we would run out of stock,’’ Executive Secretary of MOMAN, Mr. Obafemi Olawore said.

Giving a breakdown of the N356.2 subsidy debt, Olawore explained that outstanding debt on forex and interest amounts to N215,868,237,459 while payment for Batch T of 2014 stood at N21,920,240,980.23 and Batch U 2014 at another N8,607,109,593.82 with Batch A 2015 amount­ing to N6,873,232,365.66 and Batch B 2015 at N2,911,139,639.70.

However, the MOMAN scribe said another N100 billion was equally out­standing, which the Fed­eral Government gave as post-dated Sovereign Debt Note (SDN) due to mature by end of April also formed part of the 356.2bn debt.

Olawore was quick to add that the SDN should not be a post-dated finan­cial instrument, but a form of payment, adding how­ever that it has not been honoured by the respective financial institutions.

A worried Olawore said the development is already taking a toll on staff wel­fare, operations and ex­pansion plans of MOMAN , which he said, if not tackled can lead to re­trenchment of some work­ers.

He maintained that debts are mounting while banks are not helping, adding that very soon Nigerians will have to rely mainly on the Nigerian National Petro­leum Corporation, NNPC for the supply of fuel in order to address the chal­lenge.

To further compound their woes, he said the re­cent directive of the Cen­tral Bank of Nigeria (CBN) to close the forex windows, leaving marketers with the only option of sourcing at the interbank has extended the timeline to source forex by four months, a devel­opment he said is hurting business operation plan­ning model.

Beyond that, he said transporters who are en­gaged by MOMAN mem­bers have already written to them, demanding the payment of about N20 billion in claims for trans­portation of fuel across the country.

But in a swift reaction, the Group General Man­ager, Group Public Affairs Division, NNPC, Ohi Aleg­be, said that his corporation would not be distracted by the threat of major petro­leum products’ marketers to stop importing fuel if the subsidy arrears owed them by the Federal Government are not paid.

The NNPC, Alegbe said, had enough products to service the entire coun­try and was not moved by the marketers’ threat.

Judging by the stock of product currently con­trolled by the Pipelines and Products Marketing Company (PPMC), a sub­sidiary of the NNPC, the NNPC spokesperson said, there was enough PMS to last beyond May 29.

He added that the cor­poration would not allow product supply issues to mar the handover as it re­mained committed to im­porting adequate quantity of PMS to ease movement and economic activities nationwide.

Alegbe said the cor­poration was importing more products, and has been allocating products to independent petroleum products’ marketers in a bid to gain penetration into all the nooks and crannies of the country.

“NNPC has put ma­chineries in place, in­cluding personnel and facilities, to monitor the movement and distribu­tion of petroleum prod­ucts to nib hoarding and/ or product diversion by some marketers in the bud”, he added.

http://sunnewsonline.com/new/?p=116257

let them keep claiming all manners of money they didn't work for, the last time atleast. .....Baba is on his way to sanitize the system

Tho we are used to fuel scarcity..
This has got to stop. Don't knw if we are moving forward..., despite the subsidy removal, yet we are still indebted wit such a gigantic figure..

GEJ u hv questions to answer..

I will like to know how the senile, clueless and certificateless buhari will handle this. He doesn't believe the subsidy. He thinks its a scam. He believes that the current fuel price is not subsidised. His eyes go open when he enters there

GMB already set to launch the prisons..

---

not a GMBITE duh!!

Only in Nigeria will you find such things.
Life in Yemen is beautiful

I just wanted to say this: well done GEJ; well done NOI.

Wic way Nigeria

Buhari will handle the situation

You see now.?

Sadly fuel subsidy has to go...under the subsidy the independent marketers can no longer afford to import fuel and make a profit.

They ain't running charities...they run businesses that employ Nigerians....who have to be paid.

Anyway.....MOST of the blame goes to NNPC and the Feds for leaving our refineries in the same sorry state they were in six years ago. We need more refineries.....and all operating at close to full capacity.

Chei...jona!!!

Grab my Kuli Kuli


make i learn small

Repair and build more refinaries

Dehn Dehn... Lagos stand up! the queue is here...

RickRichards:
I just wanted to say this: well done GEJ; well done NOI.

Ewure

cant they give licences to those who are willing to do these importation businesses genuinely without cornering the government or putting nation to ransom pending the time we can overcome it as a nation as new government emerges? Is it this difficult? can someone explain? And what will shock people most is that by the time cbn/banks releases those that are distressing banks and taking loans without collateral , these cabals name will be at the top lists.
They corner the government, they wreck banks, they defraud their employers and lots more. What are they doing with their money?

They better sort it out with the Federal government. We are tired of endless fuel scarcity. There is an extent to which our patience can be tested.

No

hmmmm

I suggest the subsidy of a thingy is removed, this is a cancer in our economy, Buhari must remove it or GEJ should do the needful before going. These importers cannot continue to hold us to ransom, after all most of them even submit forged documents to claim subsidy funds. Please let this subsidy thing end and let's have rest.

Hmmnnnnn

See change. Now Buhari has come everything is changing. Even the importers are changing.
(The above statement is sarcasm).

Jonathan should just focus on handing over. You have done well my brother. Let Tinubu come and sanitize the system.

insult me and die like Awolowo.

shoro niyen?

GE

Kaybaba5:

http://sunnewsonline.com/new/?p=116257

Nothing can spoil gejs name as he exits from the helms of affair.

APC n all the cohorts attached to them can do all they like.

Though times ahead..Uncle B has a lot of work to do.
These subsidy claims are no longer issues of "certificatelessness" or "cluelessness"...APC or PDP.
.
.
Say no to subsidy!!