Major Oil Marketers Association of Nigeria (MOMAN), after reaching an understanding with the National Association of Road Transport Owners (NARTO), called off their strike - which followed a deadlock with the Federal Government over outstanding fuel subsidy payment.
The association’s Executive Secretary, Femi Olawore, who disclosed this to journalists, said the marketers owed members of NARTO about N20 billion and their inability to pay the debt incited the suspension of the lifting of products.
Olawore however said they have been able to offset part of the debt after the Federal Government paid the N154 billion, which is a part payment of the subsidy.
He said government owes the marketers N200 billion subsidy payment.
The secretary said the marketers, with the understanding NARTO, has given government two weeks to pay the remaining money.
“We have scheduled to meet with the Coordinating Minister of the Economy on Monday, but if the meeting fails to address the issue we have tabled, then we will continue with the action”
He said the marketers will cooperate with the government as long as the payment is made in two weeks, affirming that they will resume strike if otherwise.
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