The Federal Government on Monday moved to avert a nationwide petrol scarcity as it released fresh N48bn to oil marketers.
The payment was confirmed through a
statement issued by the Special Adviser on Communications to the
Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Monday night in Abuja
The fresh N48bn, which was paid to 26
oil marketers, brings the total amount so far released for subsidy
payment by the ministry in the 2013 fiscal period to N240.5bn
The beneficiaries are AITEO Energy
Resources Limited, Ascon Oil Company Limited, Conoil Plc, Dee Jones
Petroleum and Gas, Dozzy Oil and Gas Limited and Forte Oil Plc.
Others are Fresh Synergy Limited, Gulf
Treasures Limited, Integrated Oil and Gas Limited, IPMAN Investment
Limited, Masters Energy Oil and Gas Limited, Mobil Oil Nigeria Plc, and
NIPCO Plc.
The rest are RainOil Limited, Sahara
Energy Resources, Swift Oil Limited, Techno Oil Limited, Total Nigeria
Plc, Bovas and Company, Heyden Petroluem, MRS Oil and Gas, Shorelink and
Aiteo Energy Resources.
The statement read in part, “The Federal
Ministry of Finance has released the sum of N48.085bn as payments to
oil marketers to cover verified subsidy claims. It will be recalled that
before this latest payment, a total of N192.502bn in verified claims
had been settled this year.
“This means that so far in 2013, total payments made to oil marketers stand at N240.587bn.”
The Major Oil Marketers Association of
Nigeria, whose members comprise Conoil, Forte, MRS, Mobil, Oando and
Total, had on Friday threatened to stop importation of petrol due to the
non-payment of their N40.6bn subsidy claims by the Federal Government.
The Secretary, MOMAN, Mr. Obafemi Olawore, had said the debt was largely for petrol imports done this year.
Although he said subsidy payments were
made in June, only Forte, Mobil and Total got N2bn, N2.2bn and N5.2bn,
respectively, making a total of N9.4bn.
While other marketers have been fully
paid for their petrol imports in 2011 and 2012, Mobil is still being
owed N7.83bn for the period.
According to a document on the status of
outstanding subsidy claims made available to our correspondent, the
Federal Government still owes Conoil N3.98bn; Forte, N4.148bn; MRS,
N5.35bn; Mobil, N5.62bn; Oando, N19.34bn; and Total, N1.66bn.
The non-payment of the debt, Olawore
lamented, had made it difficult for marketers to continue to do
business, noting that they relied on bank loans for petrol imports.
He explained that the agreement with the
Federal Government was for subsidy payments to be made 45 days after
the imported fuel had been delivered.
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