Oil Marketers Lament lack Of Forex To Pay Debt

Oil marketers on Friday in Abuja pleaded with the Federal Government to assist them in making foreign exchange available for the importation of petroluem products.
The marketers, under the umbrella of the Depot and Petroleum Products Marketers Association of Nigeria (DPPMAN), made the plea during a meeting with the Minister of Finance held at the headquarters of the ministry.
The meeting, chaired by the minister, was attended by Chief Executive Officers of 46 major oil companies in the country. It was held to discuss salient issues affecting the downstream sector of the petroleum industry.
The Chairman of DAPPMAN, Mr Dapo Abiodun, told the minister that members of the association were currently having a tough time converting some of the Naira payments made by the government to dollars. He said their inability to convert these payments from the Federal Government from Naira to dollar was making it difficult for them to meet their obligations to their foreign partners.
He said while the oil marketers would continue to do their best in importing petroleum products into the country, the unavailability of foreign exchange might make it challenging to achieve such objective.

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Daniel Enisan is a content writer at edliner.com. With a degree in mass communication, Daniel is a full breed journalist. Daniel is a realist, loves the use of sarcasm, a movie and music junkie. He is also a poet and a good listener.

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