Stakeholders blame fuel scarcity in some states on FG’s subsidy debt

The lingering fuel scarcity being witnessed in some states has been attributed to the refusal of Federal Government to pay the outstanding subsidy debt to petroleum marketers,  

 
This was stated by industry stakeholders at the ongoing Oil Trading and Logistsics Expo in Lagos. Government’s inability to pay the outstanding balance had not only hindered marketers from having the resources to further invest in product importation, but had led to huge loan portfolios in the books of importers.
The Chairman, OTL Advisory Board, Mr. Stanley Reginald, said about 70 percent of those eligible to import petroleum products into the country were currently not able to do so due to lack of funds. He added that since government refused to pay outstanding balance on subsidy, the importers were constrained.