May 24, 2018

Oil marketers give FG October deadline

Oil marketers give FG October deadline

Oil marketers have given three conditions for continued supply and distribution of petroleum products, as shortages crept in once again with fuel queues noticeable in some parts of Abuja, Lagos and other cities nationwide.

The conditions are that Federal Government pay outstanding subsidy claims by month end, intervene for the Central Bank of Nigeria, CBN, to release foreign exchange to marketers and intervene with commercial banks to grant credit lines to marketers.

Vanguard gathered the conditions were part of the agreements reached yesterday at a crucial meeting in Abuja, with the management of Nigerian National Petroleum Corporation, NNPC. Read more

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