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Oil & gas: Depot, marine workers jittery over banks, marketers’ row

About 3,000 contract employees at depots, marine storage facilities and retail outlets of the major oil marketers in Nigeria are jittery as the business ties between lenders and fuel marketers hit record low.

The fear that this situation could lead to salary cut and outright loss of job, New Telegraph gathered exclusively at the weekend, is rocking the downstream sector.

The sector had earlier been declared bearish by stakeholders.

Executive Secretary of MOMAN, Clement Isong, told New Telegraph on the side-line of a press conference in Lagos that most of his members’ businesses were now running at a loss.

With this development, the lenders, he said, were not in best of relationships with marketers.

New Telegraph, January 29, 2019

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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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