The lack of refined petroleum items, particularly petrol, may proceed the nation over for the unforeseeable future on the grounds that advertisers have quit importing the item because of the hesitance of the banks to give them credit.
It was additionally learnt that as of May 29, 2015, the sum being owed all the oil advertisers by the Federal Government was N291.7bn.
Our journalist assembled that the refusal of the banks to give credit to the advertisers had antagonistically influenced the matter of some of them, the same number of were at that point thinking about leaving the endeavor.
Sources in the part, who talked with our reporter in Abuja on Sunday, said that the refusal of the banks to give extra credits to the advertisers could be because of the Federal Government's postponement in paying the immense appropriation obligation being owed the fuel merchants.
In spite of the fact that they conceded that the Nigerian National Petroleum Corporation was right now the sole merchant of petrol, the amount of fuel being devoured in the nation was high to the point that the NNPC may not have the capacity to handle it singularly.
"Banks are declining to give a few advertisers advances to import petrol and they are trusting that the present organization will intercede, especially by paying the immense appropriation obligation, in light of the fact that the NNPC alone will most likely be unable to shoulder all the fuel need of Nigeria," an official at the Federal Ministry of Petroleum Resources, who identifies with our reporter on the state of namelessness, said.
Affirming this, the Executive Secretary, Depot and Petroleum Products Marketers Association, Mr. Olufemi Adewole, told our journalist that individuals from the gathering were not importing petrol once more, in light of the fact that the banks had yet to open credit lines to them.
Source: PunchNg
