Fuel Scarcity: Marketers Blame Subsidy Probe, Loss Of Confidence

The spiral effect of the ongoing probe by the National Assembly has been blamed for the spate of fuel scarcity across the country. This was the highlight of the meeting between the Senate committee on Petroleum Resources (Down stream) and a delegation of stakeholders in the oil sector led by the Ministries of Finance and Petroleum seeking to unravel the current fuel scarcity across the country.

The marketers alleged that following the on-going fuel subsidy probe, financiers have lost faith in the programme adding that it has resulted in the refusal of banks to grant loans to marketers. The marketers also told the panel that they had withdrawn from fuel importation for fear that subsidy have been removed and that outstanding debts owed them by the federal government would not be paid.

http://www.leadership.ng/nga/articles/17260/2012/02/24/fuel_scarcity_marketers_blame_subsidy_probe_loss_confidence.html

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s