LAGOS — The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA) yesterday, threatened to shut its operations within 48-hours if government failed to pay the subsidy claims to marketers.

Mr Dapo Abiodun, the President of the association, gave the ultimatum in a telephone interview with the News Agency of Nigeria (NAN) in Lagos.

Abiodun said that government’s failure to pay all verified and outstanding subsidy claims would force the members to suspend supply and distribution of petroleum products nationwide.

“We are not fighting government but what we are saying is that government should pay all our outstanding subsidy claims which have affected our operations.

“If after 48-hours government fails to effect payment, we, the members of DAPPMA are going to put our operations on hold nationwide pending when it is paid,” he said.

Abiodun said that banks were charging marketers about N1.80k as interest on a litre of petrol per month due to non-payment of the subsidy claims by government.

He said that it costs members about $30 million to import 30,000 tonnes of petrol, adding that non-payment of subsidy had resulted to huge debts from funds borrowed from banks.

According to him, the bank loans used to finance importation of petroleum products have continued to accrue interests over and above the 45 days.

He said also that the decision of Federal Government to suspend indefinitely all verified and outstanding subsidy payments since January had exposed its members to financial crisis.

“Our members have been exposed to 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 situation had made it imperative for marketers to demand also the payment of all accrued interests over and above the contractual period.

He said that the association was not against the ongoing investigation of the 2011 subsidy claims by marketers but requested for the full payment of 2012 subsidy claims so far.

“We have subjected ourselves to the various panel investigations but nothing came out of the reports. Government doesn’t have reason to hold payment of claims when marketers duly imported products.”

Meanwhile, Wole Ademolekun, the General Manager, Operations of the Petroleum Products Pricing Regulatory Agency (PPPRA), said that they would not join issues with marketers on the subsidy payment.


http://www.vanguardngr.com/2012/07/petroleum-marketers-threaten-to-shut-operations-in-two-days/

Everyone is just threaten anyhow for this country. GEJ threatened yesterday today petroleum marketers. I must threaten someone on NL.

Mr ABIODUN , am not surprise, Yaribas are the most corrupt ppl in Nigeria, spoiling other groups, always pioneering corruption in Nigeria. I wonder if the oil belong to you guys instead of us what would have happened.

Please shut down everything. I don tire joor! Haba! Everything seems to be on a standstill in the country sef. Is there any respite for the common man in this country?

Truth be told, this government should please pay these people if they owe them. If you have have money to acquire exotic cars for some first ladies summit, I believe you will have enough to pay your debt. This is what we will keep suffering when we have refused to do the proper thing. Keep exporting your crude and importing the finished product and things like this will continue to happen.

Na today we know say fowl no dey piss? No be today we start to hear "threat". everyone is threatening one another.if we don't threaten govt,govt will threaten us.I think its high time I threatened someone!

berem: Na today we know say fowl no dey piss? No be today we start to hear "threat". everyone is threatening one another.if we don't threaten govt,govt will threaten us.I think its high time I threatened someone!

Babe technically, fowl they piss!!!
Seun if you don't put me inside a NL committee, i will...(when i remember the threat, i go let you know.)

Two days is too short,they should go for 365 days and let see if they and their immediate & extended family will not be affected.

Na wa o,threat everywhere,jona threaten patience,otedola threaten farouk,okay me sef threaten ileke-idi.NONSENSE.

Great! It is long overdue.
We've been waiting for some drama from another organisation since the #OccupyNigeria movement was laid to rest, thanks to Labour.
You forget you're in Nigeria untill some select few begin to torment the whole populace like no man's business.
Where The Gods At??!!!

Okay......

I'm gonna shutdown NL within 24hrs if a sum of #200,000 is not deposited in my account.

Seun take note.

killuminati: Okay......

I'm gonna shutdown NL within 24hrs if a sum of #200,000 is not deposited in my account.

Seun take note.

Bros na 200k dey hungry you?? You for just send message to Seun and him for fedex the money to you.

Petroleum marketers again! Oh no.

Here we go again........I just tire

We all see now what happens when government entrust the operations of critical national importance in the hands of private sector, they (private sector) simply hold the country to ransom. If government can just do its job properly, there would be no need for a private cabal (private sector) to threaten the whole country, and mo.tha.fu.ckers are intentionally refusing to fix our refineries

no more cutting of corners, no more awoof money, effects of PIB

If the marketers are demanding what is rightly theirs, I don't see any threat here. If the govt can pay some people to supply fuel and at the end the fuels are not supplied but they have been duly paid, and nobody has been held accountable, it therefore means, our govt is a joke

CHESSBOARD: Mr ABIODUN , am not surprise, Yaribas are the most corrupt ppl in Nigeria, spoiling other groups, always pioneering corruption in Nigeria. I wonder if the oil belong to you guys instead of us what would have happened.

Ewu! I cant blame you for accusing a tribe here,because you were just looking for a cheap fame on nl. Eranko!

words of naija news2012 .boko,subsidy,bomb,fraud,trillions,committe and now threat...

[''Vows''... ''threatens''....''Promises''....''Poised''. In Naija, dese word have onething in common..... EMPTY!!!

miteolu: Everyone is just threaten anyhow for this country. GEJ threatened yesterday today petroleum marketers. I must threaten someone on NL.

Hahaha! I threaten all nairalanders to emm...I no sabi threaten person sef.

This bastard still dey ask us for money with all what they have stolen from us.

SMHIB (Shake my head in bemusement). Things are really falling apart in Nigeria and the centre really cannot hold. What a country!

CHESSBOARD: Mr ABIODUN , am not surprise, Yaribas are the most corrupt ppl in Nigeria, spoiling other groups, always pioneering corruption in Nigeria. I wonder if the oil belong to you guys instead of us what would have happened.

Another dumba$$
The product of Nigeria's failed educational system
Must you always go the tribal route with your every conversation?

Murphy T: Abiodun said that government’s failure to pay all verified and outstanding subsidy claims would force the members to suspend supply and distribution of petroleum products nationwide.

“We are not fighting government but what we are saying is that government should pay all our outstanding subsidy claims which have affected our operations.

Abiodun said that banks were charging marketers about N1.80k as interest on a litre of petrol per month due to non-payment of the subsidy claims by government.

He said that it costs members about $30 million to import 30,000 tonnes of petrol, adding that non-payment of subsidy had resulted to huge debts from funds borrowed from banks.

According to him, the bank loans used to finance importation of petroleum products have continued to accrue interests over and above the 45 days.
Abiodun said the situation had made it imperative for marketers to demand also the payment of all accrued interests over and above the contractual period.

He said that the association was not against the ongoing investigation of the 2011 subsidy claims by marketers but requested for the full payment of 2012 subsidy claims so far.

“We have subjected ourselves to the various panel investigations but nothing came out of the reports. Government doesn’t have reason to hold payment of claims when marketers duly imported products.”

http://www.vanguardngr.com/2012/07/petroleum-marketers-threaten-to-shut-operations-in-two-days/

I believe their reasons are germane enough because this is business
Let government disprove this or pay up
Chikena!

Subsidy! Subsidy! Subsidy! I patiently await the day that this rubbish will be removed. So that the cabal will be out of business. Petroluem marketers wil not hold us to ransome. NLC will focus on the welfare of its workers. PPPRA/ customs/NNPC will have nothing to embezzle. Govt will not scare us with price fixing. Real investors in refineries wil come in to build refineries because of the deregulated regime. Employment will be generated in millions. Importation will end. Prices will be high initially but competition will push it down to N45.00 which is the estimated cost of production/local transport of a liter. There will be product availability and we will all be happy.