The Depot and Petroleum Products Marketers Association (DAPPMA) on Tuesday expressed concern over the inability of Nigerian National Petroleum Corporation (NNPC) to send petrol to its members’ depots. The DAPPMA official claimed that their members pay PPMC/NNPC in advance for petroleum products. “Hoarding is regarded as economic sabotage and we assure all Nigerians that our members are not involved in such illicit act. Adewole said the exchange rate of the dollar to the Naira is N306 for petrol imports and the interest rate Nigerian banks charge is above 25 per cent. Adewole however assured that fuel marketers remain committed to the progress of the nation and its citizenry as therein lies their own profitability and fulfillment.

Source: The Guardian December 26, 2017 13:30 UTC