Home BUSINESS Fuel Scarcity May End Soon, As Oil Marketers Resolve Subsidy Controversy With...

Fuel Scarcity May End Soon, As Oil Marketers Resolve Subsidy Controversy With Government

Okonjo Iweala

There are indications that soon, the nation-wide fuel scarcity and crisis would be a thing of the past, as the Major Oil Marketers have resolved the knotty issue of subsidy payment controversy with the minister of finance, Ngozi Okonjo-Iweala.

The Major Oil Marketers Association of Nigeria (MOMAN), today, met with the minister and came up with an assurance that the fuel scarcity, being experienced across the country, would be over within the next few days. The meeting was held at the headquarters of the Ministry of Finance in Abuja.

It was also resolved at the meeting, which was attended by representatives of MOMAN and some senior officials in the finance ministry that outstanding subsidy claims would be paid even after a new government takes over power.

At the end of the meeting, which lasted over four hours, Okonjo-Iweala briefed newsmen along with the Executive Secretary, MOMAN, Mr. Thomas Olawore.

According to the finance minister, the issues that led to the scarcity had been resolved adding that based on the discussions at the meeting, the Federal Government and the oil marketers had both agreed to bring an end to the fuel scarcity problem.

“We have appealed to them (oil marketers) and you have heard them saying, following the payment of the N154bn, things will ease off.

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“We have spent a considerable time talking about this and we welcome the news that have been announced by the marketers and we thank them.

“On our own side, we have discussed the issues they have put on the table and we are looking into them, government is a continuum and you find out that whatever the issues are, they would be resolved so that Nigerians will not suffer.”

When asked how the controversy surrounding the actual outstanding subsidy arrears, being owed the marketers was resolved, the minister said it would be difficult to get the exact debt owing to what she described as the “rolling” nature of the business.

She, however, said that with the understanding reached with the marketers, all the outstanding debts would be paid based on claims processed by Petroleum Pricing Products Regulatory Agency (PPPRC)

“What I want you to understand is that this is a rolling business and there is no one definitive figure.” [myad]

 

 

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