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FUEL: Marketers Abandon Importation Over Losses – NNPC


The Nigerian National Petroleum Corporation, NNPC said oil marketers abandoned importation of petrol due to the losses they incurred.

Chief Financial Officer of NNPC, Isiaka Razak, stated this when he appeared before members of Senate Committee on Public Accounts in Abuja investigating the fuel supply situation in the country.

Razak expressed worry that the task of importing fuel into the country was left alone to NNPC, saying that for one year, marketers avoided importing fuel because they incurred losses.

Earlier, the Executive Secretary, Major Oil Marketers Association of Nigeria, MOMAN, Obafemi Olawoke, had urged the Federal Government to pay the arrears of subsidy claims owed the association’s members between 2013 and 2015.

Olawoke said that payment of the money would enable the marketers to resume importation of fuel.