oil marketers in line with its commitment to prioritise payments in spite
of revenue constraints.
This is contained in a statement by the Special Adviser to the
Coordinating Minister and Minister of Finance, Mr Paul Nwabuikwu, on
Thursday in Abuja.
The statement stated that the payment had two components comprising `I owe
you’ (IOU), given in March and interest on payment.
“The first consists of the cash backing of the N100 billion IOU which the
marketers were given in March. The second is N56 billion in interest
payments for the marketers according to the PPPRA template.
“This leaves a balance of N98 billion certified by PPPRA as the amount
owed the markers,” it stated.
It explained that the N156 billion was the latest in a series of
significant payments made to the oil marketers within the last five
months.
It explained that these included over N300 billion in two instalments in
December last year and N31 billion in interest differentials recently.
It stated that in all, oil marketers had received over N500 billion within
the past five months.
Okonjo-Iweala, in the statement, urged the marketers to appreciate the
efforts being made by the government to meet up with their payments.
The coordinating minister also urged them to reciprocate with some
understanding of the situation of Nigerians who should not suffer more.
The minister urged the marketers to sustain the distribution and supply of
fuel to end the suffering of Nigerians at fuel stations.
“The Federal Government has made maximum effort, in spite of the
well-known fact that the fall in oil prices has significantly reduced
national revenues, to prioritise payments to marketers.
“For the sake of Nigerians who are bearing the brunt of fuel scarcity, the
marketers should reciprocate in the spirit of dialogue and cooperation in
which we have always tried to engage them,” she said.
The Executive Secretary, Major Oil Marketers Association of Nigeria
(MOMAN), Mr Obafemi Olawore, in a telephone interview with the News Agency
of Nigeria (NAN), appreciated the gesture and commended the Federal
Government for fulfilling its promises.
Olawore, however, said the association would not take any corresponding
action until its members received payment alert from their respective
banks.
The MOMAN scribe said the association was ready to commence importation
and distribution of fuel to end the suffering of Nigerians at fuel
stations once the money hit their accounts.
He said the members would not work with any paper promise without cash
backing.(NAN)