Business
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.
RipplesNigeria …without borders, without fears
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.