Major oil marketers shelve strike, reach deal with presidency

Major petroleum products marketers have withdrawn their threat to disrupt the supply of petrol over the unpaid N800 billion subsidy claims on imported petrol.

The marketers, including oil depot owners, took the decision, following a deal they reached with the presidency at a meeting on Thursday night in Abuja.

At the end of the meeting, the marketers said they were satisfied with the arrangements outlined by the presidency to clear the arrears of the imported petrol subsidy.

The marketers said they will no longer shut their depots and retail outlets as earlier threatened.

Another round of meeting is scheduled to hold on December 13.

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