More Facts Emerge As Fuel Scarcity Abates

Recent reports have shown that the association of oil marketers have actually been on the side of Nigerians and have worked tirelessly to broker a deal with the Federal Government to end the unfortunate strike action by the association.

The Major Oil Marketers Association of Nigeria (MOMAN) have continuously honored their commitment to ensuring the availability of petroleum products across the country by extending the negotiations to include the  oil transporters and unions, who also went on strike based on non-payment of their wages.

The encompassing strike which was caused by the debt of over N280 billion owed the Association members by the Federal government practically crippled the Nigerian economy and is looking like a fresh wave of fuel scarcity is in the offing.

The resultant effect of the previous Government’s lackluster approach to dealing with the payment of outstanding monies being owed the marketers  resulted in paucity of funds as financial institutions refused to honor letters of credit presented by the Marketers to service commitments already undertaken. The consequences of this development became evident as the entire downstream value chain almost collapsed but for the timely intervention of MOMAN in the situation then.

According to a stakeholder within the system "workers were massively frustrated, because funds were not made available. Simply put, someone in authority at the Federal level just refused to do their Job!"

The Unions on their part were very supportive of the MOMAN-led process to resume functional 87supply duties, especially as they were also hard-hit by the strike action within the sector

The Association, along with the Senate Chairman on Petroleum Resources Magnus Ngei Abe, was able to engage all stakeholders and come to a reasonable agreement in order to alleviate the unwarranted and unnecessary suffering of Nigerians.

Part of the outcome of the stakeholder's session including the resumption of oil product supply, included the assurance made by the Coordinating Minister of the Economy and  Minister of Finance-Dr. Ngozi Okonjo-Iweala to stakeholders that though negotiations are on-going regarding the outstanding amount payable, the present government recognizes the legitimacy of the claims made by the association and is committed to the payment of all outstanding which will also be honored by the in-coming government.