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N800bn subsidy debt: MOMAN, DAPPMA call for quick settlement

By Sebastine Obasi

Oil Marketers, under the aegis of Major Oil Marketers Association of Nigeria, MOMAN, and Depot and Petroleum Products Marketers Association, DAPPMA, have appealed to the Federal Government for prompt payment of over N800 billion outstanding subsidy debt to save them from total shut down.

This came on the heels of the directive by Senate Committee on Petroleum (Downstream) to the Ministry of Finance and Debt Management Office, DMO, to hold a meeting with the oil marketers and other stakeholders to agree on the grey areas.

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Speaking during an interactive session with journalists in Lagos, Executive Secretary, MOMAN, Mr. Clement Isong, appealed to the government to hasten the payment of the outstanding debts as the continued non-payment has severely limited their access to credit facilities and negatively impacted their working capital leading to their inability to pay their banks and service providers.”


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