Tag: DAPPMA
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Subsidy debt: Depot owners suspend shutdown of operations, give 5-day grace
The Depot and Petroleum Products Marketers Association (DAPPMA) has suspended its planned shutdown of depots across the country from loading petroleum products effective from 12-midnight on Sunday, Dec. 9. The suspension directive was conveyed in a statement issued by DAPPMA Executive Secretary, Mr Olufemi Adewole, at about 1.20 a.m. on Monday in Lagos and made…
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Fuel crisis looms as marketers write Senate over N800b subsidy debts
As Nigeria nears the yuletide, the nation may suffer yet another fuel supply crisis as oil marketers have written Senate Committee on Petroleum Downstream over non-payment of subsidy arrears by the federal government. TheNewsGuru (TNG) reports the oil marketers had on Sunday in Lagos gave the FG a seven-day ultimatum to settle outstanding debts totaling…
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N800b subsidy debts: Oil marketers give FG 7-day ultimatum to pay cash
Oil marketers on Sunday in Lagos gave the Federal Government seven-day ultimatum to settle outstanding debts totalling N800 billion, failing which depots would cease operation across the country. The marketers, comprising Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPPMA) and Independent Petroleum Products Importers (IPPIs), said failure to meet…
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N650bn unpaid subsidy arrears affecting our operations – Marketers
Depot and Petroleum Products Marketers Association (DAPPMA) on Sunday said the unpaid subsidy arrears of over N650 billion by the Federal Government posed huge financial challenges to the downstream operations. DAPPMA Executive Secretary, Mr Olufemi Adewole, told the News Agency of Nigeria in Lagos that the settlement of the debts owed them would save their…
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Scarcity: NNPC ignores DAPPMA, to sell fuel directly to marketers
As part of efforts to find a long lasting solution to the constant fuel scarcity, the Nigeria National Petroleum Corporation (NNPC) in a stakeholder meeting held at the Presidential Villa in Abuja on Wednesday decided to henceforth sell petroleum products directly to marketers. The decision, if implemented will see to the elimination of the middlemen…