“We are discharging from our own end and we are also having NNPC (Nigerian National Petroleum Corporation),” Obafemi Olawore, executive secretary of the Major Oil Marketers Association of Nigeria said in a CCTV Africa report.
“We want you to help us assure the Nigerian public that yes there was some tightness, but the tougher days are over,” he told government officials at a recent meeting.
According to the report, oil marketers put a hold on importation to Nigeria as the government reached an outstanding subsidy limit. Nigeria’s finance ministry says that the country owes $185 billion and will issue sovereign debt notes to provide $100 billion to oil marketers right away. Central Bank officials say that they are confident that banks will provide payments to the marketers — and if not the Central Bank will appeal to expedite the oil importation process.