FG owes us N53.6bn - Oil mar­keters

Daily Trust - - NEWS -

Ex­ec­u­tive Sec­re­tary, Ma­jor Oil Mar­keters As­so­ci­a­tion of Nigeria, Mr Obafemi Ola­wore, has pleaded with the federal govern­ment to pay mar­keters’ sub­sidy claims to avoid fuel scarcity.

Ola­wore made the plea in an in­ter­view with news­men in La­gos on Mon­day, claim­ing that the out­stand­ing sub­sidy claims stood at N53.6 bil­lion.

“As at April 1, we were still owed an out­stand­ing of over N53.6 bil­lion by govern­ment on sub­sidy which makes it ex­tremely dif­fi­cult for mar­keters to im­port prod­ucts into the coun­try. Most ma­jor and in­de­pen­dent mar­keters who re­ceived Sov­er­eign Debt Note from Debt Man­age­ment Of­fice last time never had it trans­lated to cash from banks. We ap­peal to the Min­istry of Fi­nance to ap­prove pay­ment of our sub­sidy claims be­cause the de­vel­op­ment has made it dif­fi­cult for mar­keters to get loans from banks,’’ he said.

Ola­wore also ad­vised the Petroleum Prod­ucts Pric­ing Reg­u­la­tory Agency (PPPRA) to start im­por­ta­tion of sec­ond quar­ter al­lo­ca­tion of petroleum to avoid fuel cri­sis. (NAN)

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