Subsidy Payment: Presidency’s Silence Worries Oil Marketers

The Major Oil Marketers Association of Nigeria, MOMAN, and the Depot Petroleum Products Marketers Association, DAPPMA, say they are worried that the Federal Government has remained mute on their demand for payment of interests on subsidy funds for fuel imported into the country, few days to the end of the tenure of the administration.

Based on government’s silence on this and the resolve of the marketers not to embark on fresh imports until their outstanding payments are cleared, there are strong indications that the current fuel scarcity in the country may persist beyond the May 29 handover of power to Gen. Muhammadu Buhari by incumbent President Goodluck Jonathan on May 29.

 The Nigerian Port Authority, NPA, however, said a ship laden with 16,500 metric tonnes of Premium Motor Spirit, PMS, otherwise known as petrol, berthed last week at the Port Harcourt Ports.

Nothing yet had been heard from the committee set up by the Minister of Finance, Dr. Ngozi Okonjo-Iweala to verify the actual subsidy figures and interest to pay oil marketers, the marketers said.

Some of the marketers believe that the committee which is made up of the Petroleum Products Price Regulatory Agency, PPPRA, Central Bank of Nigeria, CBN among others, was a ploy by the Federal Government to delay payment of their claims.

 They argued that the figures presented to government for payment had earlier been verified by ‎PPPRA under the supervision of CBN and that verification by the new committee would delay payment beyond the hand over date.
Fuel Oil

Author: News Editor

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