Federal Government reaches agreement with MOMAN, lifting of petroleum products to commence in 6 hours

fuel-scarcity

As the scarcity of fuel is virtually crippling the Nigeria economy which has lead to early closure of Banks, Media Houses, Businesses and also the cancellation of flights and transportation.

The Federal Government has reached an agreement with Major Oil Marketers Association of Nigeria (MOMAN) and lifting of petroleum products may commence any moment from now, according to dailypost.

A meeting convened by the Senate Committee on Petroleum (Upstream and downstream) to resolve the crisis, ended peacefully with the Chairman, Major Oil Marketers Association of Nigeria (MOMAN), Obafemi Olawore, saying that its members made up of Oando, Conoil, Forte Oil, MRS, Total and Mobil Oil have resolved to commence lifting and distribution of fuel in few hours from the available stock supplied by the Nigerian National Petroleum Corporation (NNPC).

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A report by The Cable said lifting of the products will commence in the next 6 hours.

This development follows the ongoing fuel scarcity that has almost crippled the nation’s economy, as major companies in the country have started to shut offices.

The Cable quoted Magnus Abe, Chairman of the Senate Committee on Petroleum resources who disclosed that the resolution was reached after a fruitful meeting with MOMAN executives, Minister of Finance,‎ Ngozi Okonjo-Iweala, Joseph Dawha, Group Managing Director of the Nigeria National Petroleum Corporation (NNPC) and major stakeholders in the oil and gas sector.

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The report also claimed that the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) have also suspended their industrial strike action.

The scarcity of fuel has virtually crippled the

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