Mr Dapo Abiodun, President of the association, made the ultimatum in a telephone interview with the News Agency of Nigeria (NAN) in Lagos.
Abiodun said that failure on the part of the government to pay all verified and outstanding subsidy claims would lead to members' suspension of supply and distribution of petroleum products nationwide.
"We are not fighting government but what we are saying is that government should pay all our outstanding subsidy claims which have affected our operations.
"If after 48-hours government fails to effect payment, we, the members of DAPPMA are going to put our operations on hold nationwide pending when it is paid.''
Abiodun said that banks were charging marketers about N1.80k as interest on a litre of petrol on a monthly basis due to non-payment of the subsidy claims by government.
He said that it cost members about $30 million dollars (N4.68 billion) to import 30,000 metric tones of petrol, adding that non-payment of subsidy has resulted to huge debts from funds borrowed from banks.
According to him, the bank loans used to finance importation of petroleum products have continued to accrue interest over and above the 45 days.
Abiodun also said that the decision of Federal Government to suspend indefinitely all verified and outstanding subsidy payments since January had exposed its members to financial crisis.
"Our members have been exposed to harsh effects of the devaluation of the Naira that will make it impossible to fully repay the outstanding dollar denominated loans when eventually payments are made by the Federal Government."
Abiodun said the situation has made it imperative for them to demand also the payment of all accrued interests over and above the contractual period.
He said the association was not against the ongoing investigation of the 2011 subsidy claims by marketers, but requesting for the full payment of 2012 subsidy claims so far.
NAN reports that the Jetty and Tank Farm Owners Association of Nigeria (JEPTON) on Monday embarked on an indefinite strike over the non-payment of subsidy claims.
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