There is a disagreement between the federal government and petrol
marketers about exactly how much subsidy debt is owed.
Punch reports
that Minister of Finance, Ngozi Okonjo-Iweala says the
government owes marketers N131 billion, however; the marketers insist that they
are still being owed N200bn after last week’s payment of N154 billion.
A meeting is scheduled to hold today in
which Okonjo-Iweala and the marketers discuss the disagreement, and hopefully
reach a resolution.
Speaking on the issue, Executive
Secretary, Major Oil Marketers Association of Nigeria, Thomas
Olawore, told newsmen that “the government had paid N154.2 billion
out of the N354.4 bilion it owed the independent and major marketers as well as
the depot owners, leaving a balance of N200.2 billion.”
However, the Finance Minister stated,“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?”
Olawore further stated “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.”
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