Oil marketers deny agreement with FG, demands cash payment

Oil marketers under the aegis of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) say they have not reached an agreement with the federal government.

In a statement released on Saturday and signed by Olufemi Adewole, the executive secretary, the association said their ultimatum to cease depot operations on Monday has not changed.

“We did not sign the purported document with government as claimed. We still stand by our ultimatum which will expire on Monday,” the statement read.

On December 2, oil marketers had given the government a seven-day ultimatum to settle an outstanding N800 billion subsidy payment debts, failing which they would cease depots operations.

“We refer to the press release from the Federal Ministry of Finance following the meeting with marketers under the aegis of DAPPMAN, MOMAN and IPMAN and most respectfully refute its contents with the following clarifications.

“DAPPMAN reiterates that there was no agreement reached because offers by government failed to meet the legitimate demands of the association and we did not sign the purported document.

“Hence, our ultimatum stands as we cannot continue to borrow from banks to pay staff salaries.

“DAPPMAN’s demands made to the FG through the Honourable Minister of Finance and Debt Management Office was to pay cash and the total sum of indebtedness to marketers within the time frame.”

According to the marketers, the debt owed to them actually belonged to banks, their shareholders and government agencies like PPPRA and Assets Management Corporation of Nigeria.

“Unfortunately based on the FG, failed promises to address the sovereign debt which was then less than N350 billion, it has grown to over N800 billion and still Federal has yet to pay.

“December 2018 makes it 18 months after FEC approval for this payment and three months after the National Assembly (NASS) approval, yet marketers have not been paid.

“We emphasise that FG’s proposed payment of promissory notes is not acceptable to DAPPMAN. We want our money paid in cash.

“Therefore, as from today, our workforce, save for security operatives, will effective, 7th December 2018 cease to be on our payroll pending payment of the debt owed by the Federal Government.”