Thirty members of the Depot and Petroleum Products Marketers Association on Tuesday threatened to join in the strike called by the Jetty and Petroleum Tank Farm Owners of Nigeria, if Federal Government failed to settle arrears on subsidy payments, among other issues by Thursday.
In a communiqué at the end of its emergency meeting, DAPPMA gave the Federal Government a 48-hour ultimatum to pay all verified and outstanding subsidy claims, accrued interests and the foreign exchange differentials arising from late payments.
Members of JEPTFON had on Monday embarked on an indefinite strike over unpaid subsidy claims. The union had shut down jetties and depots belonging to its members.
DAPPMA said its members would suspend the supply of petroleum products nationwide, if government did not address the issues. It added that the bank loans used to finance importation of petroleum products had continued to accrue interest over and above the 45 days allowed for reimbursement.
President of the association, Chief Dapo Abiodun, and Secretary, Mr. Ikem Ohia, stated, “Our members have been unfavourably exposed to the harsh effects of the devaluation of the naira that will make it impossible to fully repay the outstanding dollar denominated loans when eventually payments are made by the Federal Government.”
Abiodun said the unilateral decision by the Federal Government to indefinitely suspend the subsidy payments for seven months had seriously threatened the business of DAPPMA members.
He said, “We demand that government pay all verified and outstanding subsidy claims and all the accrued interests over and above the contractual period, as well as all the foreign exchange differentials arising from late payment of subsidy within 48 hours.
“We implore government to meet the above demands within 48 hours, failing which we will be constrained to suspend the supply and distribution of petroleum products nationwide.”
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