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FG Gets Five-Day Grace As DAPPMAN Suspends Shutdown

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Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has suspended its earlier directive to commence shutdown of depots across the country from loading petroleum products.

The suspension directive was made known in a statement issued in the early hours of Monday by Olufemi Adewole, DAPPMAN’s executive secretary.

The association had earlier directed marketers to shut down all loading operations by midnight on Sunday following the continuing indebtedness of the Federal Government to the petroleum marketers.

“Following the intervention of well-meaning Nigerians including the National Assembly as represented by the Senate Committee of Petroleum Downstream and constructive engagement of the Federal Government team by the labour unions most affected by the disengagement of our personnel, namely, PENGASSAN, NUPENG NARTO, and the PTD, DAPPMAN has resolved to recall its disengaged personnel for 5-days to give the FG’s team the opportunity to conclude its process of paying marketers the full outstanding of N800 billion with the first trench being the amount already approved by the Federal Executive Council (FEC),” the statement read.

Speaking further, Adewole said:

“The union has resolved to recall its disengaged personnel for five days to give the Federal Government’s team the opportunity to conclude its process of paying marketers the full outstanding of N800 billion with the first tranche being the amount already approved by the Federal Executive Council (FEC).

“The association has acted in good faith to avoid unnecessary hardship which could befall Nigerians during the Yuletide season and we hope that government would make good its promise to see that those issues are resolved by Friday, Dec., 14, 2018 as promised.

“To this end, our disengaged personnel would be recalled on Monday, Dec. 10, and considering the reactivation time or hitherto shut down system, all depots with fuel stock should be fully active same day,’’ he said.

Adewole noted that the conclusion of the debts payment would curtail the continuing wastage of public funds as interest accruing on the over N800 billion debt.

“DAPPMA depots are, therefore, advised to commence loading operations immediately and await further notification in respect of our long overdue payment,” he said.

DAPPMA said that the decision of government claiming to settle N236 billion out of the outstanding N800 subsidy arrears was not acceptable to its members, leading to Thursday, Dec.  6,  meeting which ended in a deadlock.

The association explained that the decision of government to pay the N236 billion through promissory notes was equally rejected by the oil marketers.

“As the name suggest, promissory note is a payment instrument that is post dated. Based on this, when you approach the banks with the instrument, you don’t get the actual value on it.

“About 30 per cent is knocked off because government will be making the payment at a later date which ties down the bank’s capital,’’’ the association said.


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