Oil marketers warn of lingering fuel scarcity over debt

isaac

April 21, 2015 5:05 PM

Major oil marketers in Nigeria have warned of a lingering fuel scarcity if the FG do not redeem its monetary pledge.

Car owners queuing at a petrol station in Nigeria

Major oil marketers in Nigeria have warned that the fuel scarcity being experienced in some parts of the country may linger for a while as the Federal Government has not paid what it owes marketers who imported fuel into the country.

The marketers under the auspices of Major Oil Marketers Association of Nigeria (MOMAN), have decried the government’s inability to disburse the outstanding payments due to its members for the import of Premium Motor Spirit (PMS) under the Petroleum Subsidy Fund Scheme.

In a letter addressed to the Minister of Finance/Coordinating Minister of the Economy Dr Ngozi Okonjo-Iweala, the association through its Executive Secretary, Thomas Olawore, stated that despite previous assurances from the government to reimburse marketers the Under Recovery due to them as verified by the Petroleum Products Pricing Regulatory Agency (PPPRA), the government has till date failed to honour its agreement.

The letter noted that as at March 31, 2015, the total amount due to the marketers based on all claims verified by the PPPRA is in the region of N270 billion but revealed that only N200 billion was earmarked for them in the 2015 budget, this according to MOMAN constituted a great cause of concern for her members.

isaac