Fuel scarcity worsens as oil marketers suspend importation over unpaid debt

The Major Oil Marketers Association of Nigeria (MOMAN) yesterday suspended further importation of fuel, pending when the Federal Government settles the N264 billion subsidy arrears owed it.

Executive Secretary of MOMAN, Mr. Obafemi Olawore,said the association was forced to take the decision as a result of the failure of banks to grant further credit facilities to MOMAN,due to its huge debt profile. Continue Reading