FG to pay oil marketers N236bn Friday, avoids yuletide fuel scarcity

2020 budget: No foreign trips for ministers, others -Buhari
Buhari

In its bid to ensure that there will be no fuel scarcity during the yuletide, the Federal Government has said that it will pay the sum of N236 billion to oil marketers on Friday, December 14, 2018.

The payment is part of the N348 billion said to have been approved by the National Assembly as outstanding subsidy claims.

This was made known by the Chief Operating officer, Nigerian National Petroleum Corporation, NNPC, Downstream, Mr. Henry Ikem-Obih, while speaking with journalists in Abuja.

His words:  “The Debt Management Office (DMO) will by next week, precisely on December 14th, pay oil marketers first part of the subsidy arrears of N236 billion as agreed by both parties.

“We agreed that after the first tranche is paid, the marketers will form committee to work on details of how the next tranche will be paid in 2019 and the last paid in 2020.

“Government is fully committed to pay the first tranche as promised and will be paid through promisory note that will be issued by the DMO.’’

However, Ikem-Obih expressed disappointment over the counter-statement issued by the Depot and Petroleum Product Marketers Association of Nigeria, DAPPMAN, over the agreement reached on Thursday between the government and the oil marketers.

“Government is committed to doing what we agreed on and that is why they get the first tranche by next week.

“We have told marketers that what government is doing now is honest and highly transparent,’’ he stated.

Following the meeting with the oil marketers on Thursday, FrontPage reported that the Federal Government gave the assurance that there would be no fuel scarcity during the yuletide.

The agreement was reached at the meeting the Minister of Finance, Zainab Ahmed and the Central Bank Governor, Godwin Emefiele, held with oil marketers.

Ahmed was represented by the Permanent Secretary of the Ministry of Finance.

The Ministry of Finance, in a tweet, said the marketers agreed that there would be smooth operation through the yuletide.

“Minister of Finance, represented by PSF, CBN, DMO and others met and agreed with the Depot and Petroleum Products Marketers Association, Major Oil Marketers Association of Nigeria, Independent Petroleum Marketers, that operations at all depots and sales will continue.

“Oil marketers have all agreed that operations at all depots and sales will continue unhindered.”