FG to resume subsidy payments next week

4 years ago 10

The Federal Government, in a bid to avert a nationwide fuel scarcity, on Friday met with major oil marketers.

It was gathered shortly after the meeting that the payment for fuel subsidy would resume by next week following the completion of work done by the auditors set up by the FG to verify fuel subsidy claims.

About N200bn is currently being owed the oil marketers by the FG.

The meeting, which was presided over by the Minister of Finance, Dr. Ngozi Okonjo-Iweala, was attended by top executives of the major oil companies.

Present at the meeting were the Chairman, Presidential Committee on the Verification of Fuel Subsidy, Mr. Aig Aig-Imoukhuede; Managing Director, NIPCO, Mr. Venkaphaty; Chief Executive Officer, Oando Marketing Plc, Mr. Yomi Awobokun; Managing Director, Total Nigeria Plc, Mr. Francois Boussagol, and General Manager, Folawiyo Energy Ltd., Mr. Dipo Makanjuola, among others.

The minister said the move became imperative in order to discuss grey areas about the fuel subsidy payments with a view to reaching a common ground on the issue.

Okonjo-Iweala said after the meeting that the discussions were “constructive,” adding that with the move, the queues being experienced in some parts of the country would soon be a thing of the past.

She said, “We met with some of the major oil marketers in the country and we just had what I will call a very good and constructive discussions on all sides on how to move forward in terms of the issue of importation of fuel and payment for 2012.

“I think that with this kind of discussion we had today, we thought it would be good for you to hear from some of the marketers concerning how this process has gone with the Federal Government.

“We have been seeing headlines back and forth on what marketers have been saying with what the FG is paying, what is happening with regard to the issue of fuel availability in the country and we have brought marketers for you to get their comments on some of these issues and the way forward.”

Also addressing journalists shortly after the meeting, Makanjuola said that with the meeting, most of the outstanding issues had been resolved.

He said, “We had a very constructive discussion and we have laid bare what our challenges are and she has also explained to us on the part of government what their commitments would be. Home Page

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