Major Oil Marketers Association of Nigeria (MOMAN) on Friday night reached agreement with the National Association of Road Transport Owners, (NARTO) to call off the on going strike.
Executive Secretary of MOMAN, Mr.Femi Olawore spoke to newsmen on the impasse with the government over outstanding fuel subsidy payment.
According to him, the marketers are owing members of the transport association about 20 billion naira and their inability to offset the debt led to suspension of the lifting of the products.
Femi Olawore further said that with the release of =N=154 billion by the Federal Government to the marketers, they were able to offset part of the debt owed transporters.
The Federal Government is yet to redeem about 200 billion naira it is still owing the marketers.
Femi Olawore continued by saying the marketers with the understanding of the NARTO members have given the Federal Government two weeks to redeem the remaining amount owed the marketers.
"We have scheduled to meet with the Co-ordinating Minister of the Economy on Monday, but if the meeting fails to address the issue we have tabled, then we will continue with the action", he warned.
The marketers according to him have started receiving payment and are paying the transporters in proportion to what they receive.
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