SUBSIDY: Senate Intervenes In Oil Workers’ Shut Down Plan
Nigerians may be in for a December to remember again, if oil marketers down tools next week.
It is still the same subsidy issue that is causing the palaver and the Senate made an attempt to intervene in the matter on Thursday.
At plenary, the Senate asked oil marketers to have a second thought on their decision to shut down.
The lawmakers want the oil marketers to, as a matter of national interest, rescind their seven-day ultimatum and allow the Federal Government a little more time to look into their demands.
Oil marketers comprising Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPPMA) and Independent Petroleum Products Importers (IPPIs), had issued a seven-day ultimatum on November 27 to the Debt Management Office (DMO).
They want the DMO to pay their outstanding sums and adhere to an agreement reached with Vice President Yemi Osinbajo.
'Failure of which we will shut down all facilities nationwide,' they threatened.
They claimed that the Federal Government had months of unpaid subsidy, foreign exchange differentials and interest rate component.
Raising the issue at plenary, the Chairman of the Senate Committee on Petroleum Downstream, Kabiru Marafa, said the action by the marketers could cripple the economy.
"If not well checked it may result in artificial fuel scarcity during the festive season and through the election period," he said.
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