Another crisis looms as DAPMAN issues FG 14-day warning to pay N650bn debt

The Depot and Petroleum Products Marketers Association of Nigeria (DAPMAN) has issued a 14-day ultimatum to the Federal Government to settle a N650 billion debt owed its members.
Executive Secretary of the Association, Olufemi Adewole gave the ultimatum in a statement issued in Lagos on Tuesday.
Adewole said that a letter was written to the presidency on January 24 but government failed to respond to the plight of petroleum marketers, many of whom have become financially insolvent.
He said failure to meet the deadline will force its members to disengage their workers and possibly shut down all DAPMAN depots nationwide.
“The unfortunate primary fallout of this step is the likely shut down of all DAPMAN depots nationwide due to lack of manpower to operate same pending the time the Federal Government will pay off its indebtedness to petroleum marketers.
”This unfortunately will have a multiplier effect on the nationwide supply and distribution of petroleum products which presently is still a struggle,’’ he said.

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