Oil marketers on Sunday in Lagos issued a seven-day ultimatum to the federal government demanding that it pays the outstanding debts totalling N800 billion, failing which depots would cease operation across the country.
The marketers, comprising Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association and Independent Petroleum Products Importers, said failure to meet the deadline would force its members to disengage workers from depots.
Confirming the seven-day notice, Legal Adviser to the Oil Marketers, Patrick Etim, said banks have taken over investments and assets of oil marketers because of unpaid debts.
According to Etim, marketers have no choice than to ask their workers to stay at home over unpaid salary arrears due to huge subsidy debts owed by the government.
Etim said that several thousand jobs were on the line in the industry, as oil marketers begin to cut-down their workforce due to inability to pay salaries.