FG pays $800million to marketers to end crisis

by Ranti Joseph

Apparently, oil marketers didn’t just agree to call off the strike, the Federal government had to step into the matter and they reached a consensus, which oil suppliers claims Nigeria’s outgoing government has agreed to pay $800 million to end a fuel crisis crippling the economy.

The Associated Press reports that chaos reigned Tuesday at Nigerian airports, where most flights were cancelled due to the shortages. Cars and other vehicles formed queues of more than 2 kilometers outside of gas stations, banks closed at lunchtime and cellphone companies warned they would be forced to shut down service countrywide for a lack of diesel to fuel generators.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) said the finance minister agreed Monday to pay a debt of $800 million to oil suppliers. It said companies started pumping oil again Tuesday and unpaid tanker drivers stopped striking.

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