There are indications that President Muhammadu Buhari has finally approved the payment of outstanding N650 billion subsidy payment owed members of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN).

The President may have forwarded a request to the National Assembly for appropriation of the payment of the said amount.

The association, in a statement issued by its chairman, Dapo Abiodun, and executive secretary, Olufemi Adewole, said the latest development followed discussions between DAPPMAN and the federal government on how to resolve the debt issue.

Recall that the association had written President Buhari on January 24 and also to Ibe Kachikwu, Minister of State for Petroleum Resources on the debts.

In the second letter, the marketers conveyed their decision to engage in mass sack of staff and closure of depots in less than 14 days.

However, in the latest press statement, the association said that series of constructive engagements and meetings had been held with the Nigerian National Petroleum Corporation (NNPC), the Ministry of Labour, the Presidency, DAPPMAN/ and  Major Oil Marketers Association of Nigeria (MOMAN).

It, therefore, expressed hope that the money would be approved by the National Assembly and payment would be made so that the lingering crisis would be resolved.

“Marketers have been reassured about the federal government’s commitment to make payment as evidenced by the request for approval for appropriation of same to the National Assembly. I hope that this approval will be given promptly and these long overdue payments made subsequently,’’ the statement read in part.

The union also assured the nation that its proposed strike had been suspended.

“Consequently, DAPPMAN/MOMAN hereby suspends the issued 14-day ultimatum and use this medium to plead with all our staff under the various umbrella unions: Nigerian Association of Road Transport Owners (NARTO), Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), Petroleum Tanker Drivers (PTD) to please bear with us whilst this approval for appropriation by the National Assembly is being deliberated on and processed, which we believe will not exceed two weeks in view of the adverse implications of any delay,” the statement read in part.

FOR MORE ON POLITICS, DOWNLOAD BOUNCE NEWS APP HERE


WATCH: LAGOS RULES, LAGOS IS OUR CITY, LAGOS IS OUR HOME