Vunderkind
Social Member
The fuel shortage that has engulfed the country in the past one month may not improve until the middle or end of April as many marketers are currently finding it difficult to finance the import allocations they recently got from the Petroleum Products Pricing Regulatory Agency.
Our correspondent gathered on Sunday that a significant number of the independent marketers, who got import allocations from the PPPRA, were finding it difficult to finance them as banks had refused to raise Letters of Credit for them.
Though the Federal Government still owes the marketers substantial subsidy claims, many of those affected, who are considered small, are said to lack the financial muscle to attract more loans from the banks without paying what they currently owe.
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Source: NigerianEye
Our correspondent gathered on Sunday that a significant number of the independent marketers, who got import allocations from the PPPRA, were finding it difficult to finance them as banks had refused to raise Letters of Credit for them.
Though the Federal Government still owes the marketers substantial subsidy claims, many of those affected, who are considered small, are said to lack the financial muscle to attract more loans from the banks without paying what they currently owe.
Click here to read more
Source: NigerianEye