Monday 4 May 2015

FG, marketers disagree on outstanding subsidy debt

The resolution of the current scarcity of petrol across the country will feature prominently at a meeting scheduled to hold today (Monday) between the Minister of Finance, Dr. Ngozi Okonjo-Iweala, and petroleum product marketers.

The meeting, which holds in Abuja, will attempt to resolve the controversy surrounding the outstanding actual subsidy arrears being owed the marketers and when it will be paid.
While the minister gave the outstanding indebtedness of the government to the marketers as N131bn, the marketers insist that they are still being owed N200bn after last week’s payment of N154bn.
The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Thomas Olawore, told one of our correspondents on Sunday that the government had paid N154.2bn out of the N354.4bn it owed the independent and major marketers as well as the depot owners, leaving a balance of N200.2bn...


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