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Fuel crisis may worsen, Okonjo-Iweala, marketers bicker over N69bn claim



Nigerians may still have to brace up for, and find ways of coping with the recent fuel scarcity that is only just slowly easing, as Minister of Finance, Dr. Ngozi Okonjo-Iweala, and petroleum product marketers, are yet to agree on how much is being owed the marketers by the Federal Government.

A meeting has been called in Abuja for Monday to attempt to resolve the controversy surrounding the outstanding actual subsidy arrears being owed the marketers and when it will be paid.

Tanker owners and drivers had temporarily suspended their strike and commenced lifting of products because of the appeal that the marketers made to them following the part payment of the debt owed them by the Federal Government.

But while the minister gave the outstanding indebtedness of the government to the marketers as N131bn, the marketers insist that they are still being owed N200bn after last week’s payment of N154bn, leaving a difference of N69bn

The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Thomas Olawore, said on Sunday that the government had paid N154.2bn out of the N354.4bn it owed the independent and major marketers as well as the depot owners, leaving a balance of N200.2bn.

But the minister said this figure could not be correct, noting that the balance that was left based on the Petroleum Pricing Products Regulatory Agency’s template was about N131bn.

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  1. Apachee zooma

    May 4, 2015 at 2:27 pm

    What an interesting country. Why is it so difficult to get simple arithmetic right? Greed! Corruption!! Everyone gets to factor his own in the deal!!! Not sure a bloodless revolution would do.

  2. Don Lucassi

    May 4, 2015 at 2:28 pm

    200 billion naira debt to oil marketers, I wonder what period this covers and if these amounts are factual and if there was already a plan in the budget to pay these debts or we have to finance that out of the new budget. If thats the case, then everyone involved-presidency, CBN, NNPC, ministry of finance and everyone else,

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