The Depot and Petroleum Products Marketers Association (DAPPMA) has suspended its planned shutdown of depots nationwide.

The decision was contained in a statement issued yesterday in Lagos by the association’s Executive Secretary, Olufemi Adewole.

The oil marketers had been at loggerheads with the

Federal Government over the N800 billion being owed them in subsidy.

The statement read in part: “The association has resolved to recall its disengaged personnel for five days to give the Federal Government team the opportunity to conclude its process of paying marketers the full outstanding of N800 billion with the first tranche being the amount already approved by the Federal Executive Council (FEC)

“This is following the intervention of well-meaning Nigerians, including the National Assembly as represented by the Senate Committee on Petroleum (Downstream) and constructive engagement of the Federal Government team with affected labour unions.”

It added: “The association has acted in good faith to avoid unnecessary hardship which could befall Nigerians during the Yuletide season and we hope that government would make good its promise to see that those issues are resolved by Friday, December 14, 2018 as promised.”

DAPPMA opposed government’s decision to pay its members a part payment of N236 billion through promissory notes.

The Executive Secretary, Major Oil Marketers Association of Nigeria (MOMAN), Clement Isong, said the planned part payments were among the issues being considered in the ongoing talks.

The National President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo, pleaded that the defrayment in tranches should be accepted provided government shows commitment.