Home BUSINESS N650BN DEBT: DAPPMA Gives FG 14-Day Ultimatum

N650BN DEBT: DAPPMA Gives FG 14-Day Ultimatum

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The Depot and Petroleum Products Marketers Association of Nigeria DAPPMAN, has given the Federal Government a 14-day ultimatum to settle a 650 billion naira debt owed its members. It said failure to meet the deadline will force its members to disengage their workers.

Executive Secretary of the Association, Olufemi Adewole said in a statement issued in Lagos, that their members have no other option to solve the problem of increasing debt burdens of borrowing to pay staff than to immediately commence massive staff disengagement.

Adewole said that a letter was written to the Presidency on January 24th but government failed to respond to the plight of petroleum marketers, many of whom have become financially insolvent.

According to the scribe, the letter serves as a reminder and an opportunity for government and its agencies to speedily approve and pay off its remaining subsidy era indebtedness to all the association’s members and all petroleum marketing companies.

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