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 The marketers also told the panel that they had withdrawn from fuel importation for fear that subsidy have been removed and that outstanding debts owed them by the federal government would not be paid.



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