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FG pays oil marketers N48.2bn 2015 outstanding subsidy claims




The Federal Government has paid the outstanding N48. 2 billion subsidy arrears owed oil marketers in 2015.

The Minister of Finance, Mrs. Kemi Adeosun, stated this on Tuesday through a statement issued by the Director of Information of the Finance Ministry, Salisu Dambatta.

It would be recalled that Ripples Nigeria had exclusively reported that the subsidy issue may affect the new-found romance between the Federal Government and oil marketers over the increase in petrol price.

According to the statement, the payment was made recently to enable the oil marketers import petroleum products and meet up their other financial needs.

“The gross total outstanding subsidy claims accruable to the oil marketers for 2015 stood at N48.2 billion, while deductable tax liabilities payable to the Federal Inland Revenue Service (FIRS) stood at N5.2 billion only.”

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The statement also said the minister has directed the Debt Management Office (DMO) to pay the claims less tax liability of N5.2 billion, which was computed by the Federal Inland Revenue Service (FIRS).

Danbatta added that oil marketers without tax liabilities were paid in full, while oil marketers with net subsidy claims and FIRS liabilities were paid net claim after deduction of tax liabilities.

“Oil marketers that were indebted to FIRS and the seven oil marketers that are indebted to the Asset Management Company (AMCON) were not paid until they settled their debts with the two agencies,” the statement added.

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