FG To Pay Debts Owed Petroleum Marketers Soon – Adeosun

Nigerian Minister of Finance, Mrs Kemi Adeosun, has promised that the Federal Government will soon pay up the debt owed oil marketers in Nigeria.

The Minister made the pledge on Friday at a meeting with Depot and Petroleum Products Marketing Association (DAPPMA) in Abuja, the Federal Capital Territory.

She assured them of a better working relationship between them and the Federal Government, which he said would ensure steady supply of petroleum products across Nigeria.

On his part, the Chairman of DAPPMA, Mr Dapo Abiodun, appealed for access to foreign exchange ‎to enable them continue with their business.

FG may increase petrol price soon — Marketers

The Federal Government may soon effect an upward review in the pump prices of Premium Motor Spirit, popularly known as petrol, oil marketers have said, attributing this to the recent increase in the cost of crude oil at the international market.

Crude oil price had fallen below $30 per barrel earlier this year, but as of May 2, 2016, the commodity’s cost rose to $45.83, according to data obtained from the Nigerian National Petroleum Corporation on Saturday in Abuja.

The oil marketers also told our correspondent that the current challenge they faced in the industry was how to sustain the improvement in the supply of petrol across the country.