Oil marketers in Nigeria have given the Federal government a seven-day ultimatum to settle outstanding debts it owes them failing which depots across the country will cease to operate.

The marketers, comprising Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DAPPMA) and Independent Petroleum Products Importers (IPPIs), said failure to meet the deadline will force its members to disengage workers from depots.

The ultimatum was confirmed by Legal Adviser to IPPI, Patrick Etim. 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.

“The only way to salvage the situation is for government to pay the oil marketers the outstanding debts through cash option instead of (the) promissory note being proposed.

“As I speak, nothing has been done several months after assurances received  from government saying it would pay off the outstanding debts.

“The oil marketers have requested that forex differential and interest component of government’s indebtedness to marketers be calculated up to December 2018 and be paid within next seven days from the date of the letter sent to the government,’’ he said.