Upgrade to Pro

$6Billion Debt, High Forex Rates Threaten Nigeria's Petrol Supply, IPMAN Warns Of Prolonged Shortage | Sahara Reporters https://bit.ly/3TeRezD
$6Billion Debt, High Forex Rates Threaten Nigeria's Petrol Supply, IPMAN Warns Of Prolonged Shortage | Sahara Reporters https://bit.ly/3TeRezD
BIT.LY
$6Billion Debt, High Forex Rates Threaten Nigeria's Petrol Supply, IPMAN Warns Of Prolonged Shortage | Sahara Reporters
The prospect of a swift end to Nigeria's petrol shortage appears increasingly bleak, as new revelations on Sunday highlighted the Federal Government's mounting challenges. A staggering $6 billion debt owed to petrol suppliers, coupled with a severe liquidity crisis, has severely constrained the government's ability to continue importing the essential product. The development comes as the Independent Petroleum Marketers Association of Nigeria (IPMAN) reported that its members no longer have access to bulk petrol supplies.