DAPPMA Confronts FG Over Debt, Threatens Fuel Situation

Yemisi Izuora
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The controversial subsidy claims by Major Oil Marketers Association of Nigeria (MOMAN) which has thrown the nation into weeks of fuel scarcity and hardship has added another twist following similar demand by Depot and Petroleum Products Marketers Association (DAPPMA).

The DAPPMA today claimed that its members are yet to receive payment  on interest incurred from loan obtained from banks to import petrol on behalf of federal government under the petroleum subsidy fund.

Executive Secretary (ES) of the association, Olufemi Adewole told journalists at a conference jointly addressed by the executive Secretary of MOMAN, Femi Olawore, that government is owing the association over N200 billion.

Adewole also said that the money is attracting interest on daily basis which according to him has been mounting since february this year.

According to him, some DAPPMA members have received about N110 billion which represents subsidy portion from products imported while the interest portion is yet to be settled.

He said the traffic gridlock being experienced in Lagos was mostly caused by petroleum tankers that are on queue to load from Apapa depots operated by members.

Adewole disclosed that there is shortage of products at the depots following their inability to import as a result of non payment of their claims.

He said that out of twenty four of its members involved in petrol import only six have been paid the interest portion.

On the other hand the Major Marketers have been reimbursed of their subsidy claims from the N134 billion released by government.

Femi Olawore, however, pointed out that the over N200 billion outstanding is a combined claim of both MOMAN and DAPPMA.

He regretted that since the latest round of scarcity occasioned by marketers inability to import fuel, government has not taken measures to contact them so as to resolve the matter.

“Government is insensitive to the whole issue, they have refused to dialogue with the marketers, so what we distribute so far is the little we receive from the NNPC” Olawore explained.

On whether, they will resume importation, he said, “at the moment due to the huge outstanding and our inability to repay the loan we took, the banks cannot give us money and our suppliers have lost confidence in giving us products so we cannot import”.

 

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