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 FG, marketers disagree on outstanding subsidy debt

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eddyvic
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PostSubject: FG, marketers disagree on outstanding subsidy debt   Mon 04 May 2015, 5:27 am

The resolution of the current
scarcity of petrol across the country
will feature prominently at a
meeting scheduled to hold today
(Monday) between the Minister of
Finance, Dr. Ngozi Okonjo-Iweala,
and petroleum product marketers.
The meeting, which holds in Abuja,
will attempt to resolve the
controversy surrounding the
outstanding actual subsidy arrears
being owed the marketers and
when it will be paid.
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.
The Executive Secretary, Major Oil
Marketers Association of Nigeria, Mr.
Thomas Olawore, told one of our
correspondents 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.
She said, “As you know, we paid
N156bn recently, N100bn of the
principal payment that we owe
them and then we paid N56bn
interest rate and some remaining
exchange rate differentials. Prior to
that, we had just paid N31bn
exchange rate differentials. So, at
the time we paid that last week,
what we had outstanding was
N98bn.”
“As of now, since we made the
announcement last week, it has
now risen from N98bn to N131bn
outstanding in principal payment.
And they are now making a demand
of N200bn and I ask them what is
the balance for?”
However, Olawore said the
N200.2bn balance was based on a
template agreed upon with the
PPPRA and that the minister could
not change it overnight without
the input of all stakeholders.
He said, “The minister agreed to
meet us tomorrow (Monday) to
discuss how the balance of
N200.2bn will be paid.
“We will explain to her that it is
N200.2bn. The PPPRA is there as the
middle party and will be able to
establish the truth based on the
agreed template.”
Olawore confirmed that the 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 payment of part of the debt
owed them by the Federal
Government.
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Twogoods
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PostSubject: Re: FG, marketers disagree on outstanding subsidy debt   Mon 04 May 2015, 7:18 am

Good job
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unikazzy
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PostSubject: Re: FG, marketers disagree on outstanding subsidy debt   Mon 04 May 2015, 7:35 am

Scarcity continues
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sunnyga
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PostSubject: Re: FG, marketers disagree on outstanding subsidy debt   Mon 04 May 2015, 8:39 am

abeg, make new government come jare
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delafirst
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PostSubject: Re: FG, marketers disagree on outstanding subsidy debt   Mon 04 May 2015, 12:25 pm

Yes, oo make e come fast..
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FG, marketers disagree on outstanding subsidy debt
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