Following the refusal by banks to fund the importation of fuel products on account of unpaid subsidy claims by the federal government, fuel scarcity in the country took a turn for the worse on Monday as virtually all private marketers turned to the Nigerian National Petroleum Corporation (NNPC) for products.

As fuel scarcity bit harder, long queues were evident at retail outlets in Lagos, Abuja and other cities in the country, with some petrol stations in Abuja selling fuel at N120 per litre.

However, the Major Oil Marketers Association of Nigeria (MOMAN) has cautioned against panic buying, promising that supply would improve once the federal government pays outstanding subsidy claims this week.

Markets blamed the current scarcity on the failure of government to pay the outstanding N264 billion subsidy claims.

The marketers also stated that the banks had refused to give them credit facilities because of their unpaid loans which would have been offset if government had paid their claims.

Though the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, met with the marketers in Lagos last week and promised to pay the claims before the end of this month, the marketers had warned that it would take weeks for the supply situation to normalise.

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http://monitor9ja.com/2015/03/pdp-apc-trade-blame-as-petrol-scarcity-worsens/

Even if GEJ has jedi-jedi and refuses to poo...It is the plan work of the opposition