Fuel Scarcity: We Can’t Import Fuel Because We’re Broke- Oil Marketers
The fuel crisis situation in the country could take a while to abate as oil marketers say they are broke and can't resume importation of fuel, a Vanguard report has revealed. "The money that the marketers were paid by the Federal Government was, according to the banks, like a tip of the iceberg, compared to the huge amount the marketers owe the banks. Majority of the marketers are not able to repay their indebtedness to the banks, making it impossible for them to secure new facilities from the banks to finance fuel import," a top source in the depot and Petroleum Products Marketers Association, DAPPMA reportedly said.