Nigerian oil marketers to begin lifting of fuel in six hours


VENTURES AFRICA – Product petroleum marketers in Nigeria have agreed to call off their strike, and to ensure restoration of normal supply of fuel throughout the country within the next six hours.

The agreement was brokered by the Nigerian senate after a meeting between the oil marketers and the federal government at the national assembly complex in Abuja on Monday. The agreement also states that the Department of Petroleum Resources (DPR) should immediately revoke the license of any oil marketer that refuses to lift petroleum products across Nigeria.

This was made known by Senator Magnus Abe, the chairman of the senate committee on petroleum resources, along with the Minister of finance Ngozi Okonjo-Iweala, who was present at the hearing and endorsed the agreement on behalf of the Federal Government.

The decision should bring an end to the crisis that has grounded several smaller businesses and forced banks to cut down on operating hours over the last week. Motorists were also paying as much as N1000 for a litre of petrol while others resorted to sleeping at fuel stations, leading many to suggest that Nigeria was on the verge of national shutdown.