An appeal has been sent to the Federal Government to pay the outstanding fuel subsidy claims.
The Major Oil Marketers Association of Nigeria (MOMAN) who made the appeal said the idea is for its members to pay back their bank loans.
The Executive Secretary of the association, Mr Obafemi Olawore, made the plea in an interview with the News Agency of Nigeria (NAN) on Wednesday in Lagos.
NAN reports that some oil marketers had on June 18 appealed to the Federal Government to pay their outstanding debts of $2bn (N720bn) owed on importation of petrol products and the accrued interests on bank loans.
Olawore said that the immediate payment of the accumulated subsidy claims would salvage the banks from total collapse over the huge debts owed them by marketers.
“We (marketers) are afraid that if the money is not paid on time, this may attract the Asset Management Corporation of Nigeria (AMCON) to take over our businesses”, he said.
The executive secretary said that inability of the marketers to import fuel had impacted negatively on loading activities at the Apapa and Dockyard private depots.
