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Federal Government Pays N42.6bn to 31 Marketers

The Federal Government has debunked insinuations by some oil marketers that they have not received their entitlements for fuel imports, insisting that Sovereign Debt Notes amounting to N42.666 billion have

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قديم 08-16-2012, 05:34 PM
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تاريخ التسجيل: Apr 2012
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افتراضي Federal Government Pays N42.6bn to 31 Marketers

The Federal Government has debunked insinuations by some oil Marketers that they have not received their entitlements for fuel imports, insisting that Sovereign Debt Notes amounting to N42.666 billion have been issued to 31 oil marketers. Senior Special Assistant to the Coordinating Minister for the Economy and Minister of Finance, Mr.Paul Nwabuikwu, said in a statement yesterday that between April and May 2012, 14 oil Marketers with a claim of N17 billion were fully settled through the issuance of Sovereign Debt Notes and other relevant documentations.

According to him, since the directive by Okonjo-Iweala to the Debt Management Office (DMO) to continue the payment of all verified claims, N25.6 billion worth of claims have been fully settled with the issuance of Sovereign Debt Notes, bringing to N42.666 billion the total amount paid to 31 Marketers between April and August this year. He said the claim by some Marketers that they have embarked on strike because the Federal Government has failed to pay them for fuel imports is not accurate, insisting that the Government has been meeting its obligations to oil Marketers in respect of all legitimate claims.

Nwabuikwu, however, explained that the claims by Marketers who have been recommended for further investigation by the Aig-Imoukhuede Presidential Committee have not been paid, noting that payments or sanctions to this category of Marketers would be determined by the outcome of investigations. “Against this background, it is clear that the strike was instigated mainly by Marketers who were indicted by the Aig-Imoukhuede Committee which investigated fuel subsidy payments. Their obvious intention is to blackmail the Federal Government in order to escape sanctions for the crimes they have committed. Nigerians should not be deceived by their antics”, he said.

He restated government’s resolve to ensure that persons and organisations who wrong do not get away with such wrong behaviour, assuring however that “payment of Marketers whose claims have been verified will continue to go on in a consistent and structured way which protects the best interests of the country.”
He also urged Marketers who have genuine issues to raise regarding their claims to come forward for discussions or clarifications. In the meantime, long queues have resurfaced in Abuja and its environments, following the threat by oil Marketers to suspend operation within the next seven days over the continued delay in payment of their fuel subsidy claims.

The Marketers under the aegis of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA), Jetty and Petroleum Tank Farm Owners of Nigeria (JEPTFON) and Major Oil Marketers Association of Nigeria (MOMAN) had vowed to shut down their facilities nation-wide should Government fail to commence the payment of their outstanding entitlements at a stipulated time.

Federal Government Pays N42.6bn to 31 Marketers


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