Oil marketers bemoan delay in subsidy debt payment.
In recent times, the end of the year in Nigeria has always been marred by fuel scarcity and as this year draws to a close, there’s been reports of outstanding subsidy debt that could bring this ugly reality to bear.
The Major Oil Marketers Association of Nigeria and the Depot and Petroleum Products Marketers Association of Nigeria have raised an outcry over debts owed their members by the Federal Government.
Mr Clement Isong, the Executive Secretary of MOMAN disclosed that the amount of subsidy claim owed its members has risen to the tune of N130.7bn as of August 2018. He appealed to the government to to be quick in facilitating the payment in order to militate against the adverse effect that the debt is causing to the smooth operation of their businesses.
President Muhammadu Buhari had requested for and gotten approval for the payment of subsidy claims totalling N348bn from the Senate in July 2018. While a large sum has already been paid to both MOMAN and DAPPMAN members, a lot more is still being owed.
“We appreciate the efforts of the National Assembly and the Federal Executive Council in approving payment but the non-payment has a significantly negative impact on the operational efficiency of the downstream sector of the oil industry, thereby placing a severe strain on players’ efforts to continually invest in infrastructure and raise industry standards,” Mr. Isong said.
