Oil Marketers Threaten Showdown With FG…To Sack Over 10,000 Workers

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has threatened to sack over 10,000 of its staff and shut down all its depots in the next 14 days.

Speaking in a letter on Tuesday by its Executive Secretary, Olufemi Adewole, to the minister of state for petroleum resources, Emmanuel Ibe Kachikwu, DAPPMAN said the decision was taken following the N650 billion owed them by the federal government.

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“In the light of the foregoing, Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) members do not have any other option open to us to forestall increasing debt burden of borrowing to pay staff than to immediately commence massive staff disengagement,” the letter read.

“The unfortunate primary fallout of this step is the likely shutdown of all DAPPMAN depots nationwide due to lack of man power 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 a struggle.

“This letter serves as a fresh 14-day reminder from today and an opportunity for the federal government tiers and its agencies to speedily approve and pay off its remaning subsidy era indebtedness to all our members and indeed all petroleum marketing companies.”

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In an earlier letter written to President Muhammadu Buhari, DAPPMAN said members could no longer access bank funds for their operations, adding that the devaluation of the naira from N195 to N305 to $1 left them with over N300 billion debt burden.

It also said that lending banks in conjuction with the Assets Management Corporation of Nigeria (AMCON) are in the process of auctioning the properties provided by marketers as security for loans.

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