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LequteMan
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Nigeria - Following requests of oil marketers in the country, the Nigeria government has cut fuel imports by 50% , worsening the fuel scarcity crisis in major cities in the country, Punch reports.
Excerpt:
It was gathered that the marketers were holding on for the payment of the balance of their subsidy arrears though the Federal Government recently issued N100bn sovereign debit notes to them out of N185bn owed them.
Our correspondent learnt that the Petroleum Products Pricing Regulatory Agency had cut by half the import allocation permits for petrol from three million metric tonnes in the first quarter to 1.5 million metric tonnes in the second quarter.
The marketing companies were said to have demanded lower allocations due to rising import costs and subsidy arrears. The number of import permits was reduced from 42 in previous quarters to 36 for the second quarter of the year
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#Nigeria #Fuel
Excerpt:
It was gathered that the marketers were holding on for the payment of the balance of their subsidy arrears though the Federal Government recently issued N100bn sovereign debit notes to them out of N185bn owed them.
Our correspondent learnt that the Petroleum Products Pricing Regulatory Agency had cut by half the import allocation permits for petrol from three million metric tonnes in the first quarter to 1.5 million metric tonnes in the second quarter.
The marketing companies were said to have demanded lower allocations due to rising import costs and subsidy arrears. The number of import permits was reduced from 42 in previous quarters to 36 for the second quarter of the year
click here to read more
#Nigeria #Fuel
