Recent reports have shown that the association of oil
marketers have actually been on the side of Nigerians and have worked
tirelessly to broker a deal with the Federal Government to end the unfortunate
strike action by the association.
marketers have actually been on the side of Nigerians and have worked
tirelessly to broker a deal with the Federal Government to end the unfortunate
strike action by the association.
The Major Oil Marketers Association of Nigeria (MOMAN) have
continuously honored their commitment to ensuring the availability of petroleum
products across the country by extending the negotiations to include the oil transporters and unions, who also went on
strike based on non-payment of their wages.
continuously honored their commitment to ensuring the availability of petroleum
products across the country by extending the negotiations to include the oil transporters and unions, who also went on
strike based on non-payment of their wages.
The encompassing strike which was caused by the debt of over
N280 billion owed the Association members by the Federal government practically
crippled the Nigerian economy and is looking like a fresh wave of fuel scarcity
is in the offing.
N280 billion owed the Association members by the Federal government practically
crippled the Nigerian economy and is looking like a fresh wave of fuel scarcity
is in the offing.
The resultant effect of the previous Government’s lackluster
approach to dealing with the payment of outstanding monies being owed the
marketers resulted in paucity of funds
as financial institutions refused to honor letters of credit presented by the
Marketers to service commitments already undertaken. The consequences of this
development became evident as the entire downstream value chain almost
collapsed but for the timely intervention of MOMAN in the situation then.
approach to dealing with the payment of outstanding monies being owed the
marketers resulted in paucity of funds
as financial institutions refused to honor letters of credit presented by the
Marketers to service commitments already undertaken. The consequences of this
development became evident as the entire downstream value chain almost
collapsed but for the timely intervention of MOMAN in the situation then.
According to a stakeholder within the system “workers
were massively frustrated, because funds were not made available. Simply put,
someone in authority at the Federal level just refused to do their Job!”
were massively frustrated, because funds were not made available. Simply put,
someone in authority at the Federal level just refused to do their Job!”
The Unions on their part were very supportive of the
MOMAN-led process to resume functional 87supply duties, especially as they were
also hard-hit by the strike action within the sector
MOMAN-led process to resume functional 87supply duties, especially as they were
also hard-hit by the strike action within the sector
The Association, along with the Senate Chairman on Petroleum
Resources Magnus Ngei Abe, was able to engage all stakeholders and come to a
reasonable agreement in order to alleviate the unwarranted and unnecessary
suffering of Nigerians.
Resources Magnus Ngei Abe, was able to engage all stakeholders and come to a
reasonable agreement in order to alleviate the unwarranted and unnecessary
suffering of Nigerians.
Part of the outcome of the stakeholder’s session including
the resumption of oil product supply, included the assurance made by the
Coordinating Minister of the Economy and
Minister of Finance-Dr. Ngozi Okonjo-Iweala to stakeholders that though
negotiations are on-going regarding the outstanding amount payable, the present
government recognizes the legitimacy of the claims made by the association and
is committed to the payment of all outstanding which will also be honored by
the in-coming government.
the resumption of oil product supply, included the assurance made by the
Coordinating Minister of the Economy and
Minister of Finance-Dr. Ngozi Okonjo-Iweala to stakeholders that though
negotiations are on-going regarding the outstanding amount payable, the present
government recognizes the legitimacy of the claims made by the association and
is committed to the payment of all outstanding which will also be honored by
the in-coming government.
Follow Us on Facebook – @LadunLiadi; Instagram – @LadunLiadi; Twitter – @LadunLiadi; Youtube – @LadunLiadiTV for updates
