The major companies and unions that distribute
petroleum products across Nigeria agreed on
Monday to end a devastating fuel strike that has
largely shut down Africa’s biggest economy.
The main unions and industrial groups who are
collectively responsible for supplying and
distributing the majority of petrol and diesel in
Nigeria made the announcement after a meeting
in Nigeria’s Senate.
“We have agreed… (to) commence lifting of
products from all available depots within the next
six hours,” said Babafemi Olawore, Executive
Secretary of the Major Oil Marketers Association
of Nigeria.
Kassim Bataiya, of the National Association of
Road Transport Owners (NARTO), said his body
“fully endorsed” the statement.
It has been nearly impossible in recent days to
purchase petrol from licensed stations across
Nigeria, Africa’s most populous country and
leading oil producer.
Black market sellers have sold jerry cans of fuel
by the roadside at inflated prices, sometimes
offering a tainted or diluted product that destroys
engines.
Most companies rely on a steady supply of diesel
to power generators given the massive shortage
of public electricity in Nigeria.
Banks closed early on Monday because of the
diesel shortage, while telecommunication
companies warned of service disruptions to their
networks.
The shortages were caused by a row between the
outgoing government and importers, as well as
strikes by petrol tanker drivers and oil and gas
workers.
Despite producing some two million barrels of
crude per day, petroleum products have to be
imported to Nigeria because of a lack of
functioning domestic refineries.
The government keeps the price at the pumps
below the market rate for consumers and pays
the difference to importers and marketers.
But they say they are owed $2 billion in arrears
and shut fuel depots to force the government to
pay.
It was not immediately clear what, if any, deal
was offered to help break the deadlock.
The administration of President Goodluck
Jonathan, which leaves office on Friday, has had
sporadic battles with fuel importers over the last
five years.
Jonathan’s successor Muhammadu Buhari has
not yet indicated how he plans to handle the
subsidy issue after taking office. source: http://www.vanguardngr.com/ cc:lalasticlala