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Oil marketers owe FG N86.4bn, report says

Oil marketers owe FG N86.4bn, report says

Facts have emerged that major and independent marketers in the country are owing the Federal Government about N86.4bn as at July 2016.

According to reports, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, NNPC Retail, is among 22 other major and independent petroleum products marketing firms that are owing the federal government.

The report also indicated that the money being owed arose from products supplied to the marketers but yet to be paid for.

Read also: Nigeria spends $4.42bn on textile importation annually

The NNPC Retail is said to be owing N22.56 billion, Oando, N25.05 billion, Forte Oil, N10.09 billion, Nigerian Independent Petroleum Company, NIPCO, N5.5 billion, Total Oil, N1.42 billion,  Conoil, N1.3 billion and Mobil Oil, N276.95 million.

Similarly, among the indebted independent marketers are Master Energy owing N5.5 billion, MRS Oil & Gas, N3.997 billion, Heyden Petroleum, N2.7 billion, Danium Petroleum, N2.35 billion, A&E Petroleum, N1.89 billion, Rahamaniyya Petroleum N1.65 billion, Càpital Oil, N1.3 billion and Amicable Petroleum, N495.35 million amongst others.

 A group of lawyers had reportedly blown the matter open in a petition to the EFCC, alleging criminal conspiracy by the NNPC and PPMC with the marketers to defraud the nation of huge resources.
They also called for the probe of some officers of the organisations to unravel their roles in the alleged scheme.

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We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
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