Way out of fuel crisis: Payment of N800b subsidy arrears on the cards

THE Federal Government is considering payment of N800 billion fuel subsidy arrears to oil marketers, provision of tax holidays and other incentives as part of measures targeted at ending the lingering scarcity.

These and other issues were pushed forward at the engagement of stakeholders, Nigerian National Petroleum Corporation, NNPC; Department of Petroleum Resources, DPR; Major Oil Marketers Association of Nigeria, MOMAN; Independent Petroleum Marketers Association of Nigeria, IPMAN; Depot and Petroleum Products Marketers Association, DAPPMA and others, hosted by Dr. Ibe Kachikwu, Minister of State for Petroleum Resources in Abuja, yesterday.

Mr. Idang Alibi, Director, Press in the Ministry of Petroleum Resources, who spoke with Vanguard on phone, yesterday, declined to provide information, noting that the engagement was still ongoing.

But a source, who attended the meeting, but preferred not to be named, told Vanguard that the payment of the debt was adopted, as it will enable the oil marketers settle huge debts to commercial banks and embark on new importation of petroleum products.
Vanguard, January 4, 2018

 

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