{"id":38278,"date":"2015-04-30T17:40:46","date_gmt":"2015-04-30T16:40:46","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=38278"},"modified":"2015-04-30T17:40:46","modified_gmt":"2015-04-30T16:40:46","slug":"subsidy-fg-pays-n156bn-debt-to-oil-marketers","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/subsidy-fg-pays-n156bn-debt-to-oil-marketers\/","title":{"rendered":"Subsidy: FG Pays N156bn Debt To Oil Marketers"},"content":{"rendered":"<div id=\"yui_3_16_0_1_1430411484933_11166\" class=\"base-card-body\" style=\"color: #000000;\">\n<div id=\"yui_3_16_0_1_1430411484933_11113\" class=\"msg-body inner  undoreset\" tabindex=\"0\">\n<div id=\"yui_3_16_0_1_1430411484933_11167\" class=\"email-wrapped\">\nThe Federal Government on Thursday said it had paid N156 billion debt to<br \/>\noil marketers in line with its commitment to prioritise payments in spite<br \/>\nof revenue constraints.<\/p>\n<p>This is contained in a statement by the Special Adviser to the<br \/>\nCoordinating Minister and Minister of Finance, Mr Paul Nwabuikwu, on<br \/>\nThursday in Abuja.<\/p>\n<p>The statement stated that the payment had two components comprising `I owe<br \/>\nyou\u2019 (IOU), given in March and interest on payment.<\/p>\n<p>\u201cThe first consists of the cash backing of the N100 billion IOU which the<br \/>\nmarketers were given in March. The second is N56 billion in interest<br \/>\npayments for the marketers according to the PPPRA template.<\/p>\n<p>\u201cThis leaves a balance of N98 billion certified by PPPRA as the amount<br \/>\nowed the markers,\u201d it stated.<\/p>\n<p>It explained that the N156 billion was the latest in a series of<br \/>\nsignificant payments made to the oil marketers within the last five<br \/>\nmonths.<\/p>\n<p>It explained that these included over N300 billion in two instalments in<br \/>\nDecember last year and N31 billion in interest differentials recently.<\/p>\n<p>It stated that in all, oil marketers had received over N500 billion within<br \/>\nthe past five months.<\/p>\n<p>Okonjo-Iweala, in the statement, urged the marketers to appreciate the<br \/>\nefforts being made by the government to meet up with their payments.<\/p>\n<p>The coordinating minister also urged them to reciprocate with some<br \/>\nunderstanding of the situation of Nigerians who should not suffer more.<\/p>\n<p>The minister urged the marketers to sustain the distribution and supply of<br \/>\nfuel to end the suffering of Nigerians at fuel stations.<\/p>\n<p>\u201cThe Federal Government has made maximum effort, in spite of the<br \/>\nwell-known fact that the fall in oil prices has significantly reduced<br \/>\nnational revenues, to prioritise payments to marketers.<\/p>\n<p>\u201cFor the sake of Nigerians who are bearing the brunt of fuel scarcity, the<br \/>\nmarketers should reciprocate in the spirit of dialogue and cooperation in<br \/>\nwhich we have always tried to engage them,\u201d she said.<\/p>\n<p>The Executive Secretary, Major Oil Marketers Association of Nigeria<br \/>\n(MOMAN), Mr Obafemi Olawore, in a telephone interview with the News Agency<br \/>\nof Nigeria (NAN), appreciated the gesture and commended the Federal<br \/>\nGovernment for fulfilling its promises.<\/p>\n<p>Olawore, however, said the association would not take any corresponding<br \/>\naction until its members received payment alert from their respective<br \/>\nbanks.<\/p>\n<p>The MOMAN scribe said the association was ready to commence importation<br \/>\nand distribution of fuel to end the suffering of Nigerians at fuel<br \/>\nstations once the money hit their accounts.<\/p>\n<p>He said the members would not work with any paper promise without cash<br \/>\nbacking.(NAN)<\/p>\n<\/div>\n<\/div>\n<div class=\"base-card-clear\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Federal Government on Thursday said it had paid N156 billion debt to oil marketers in line with its commitment to prioritise payments in spite of revenue constraints. This is&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":26553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-38278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Subsidy: FG Pays N156bn Debt To Oil Marketers - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/subsidy-fg-pays-n156bn-debt-to-oil-marketers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Subsidy: FG Pays N156bn Debt To Oil Marketers - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Federal Government on Thursday said it had paid N156 billion debt to oil marketers in line with its commitment to prioritise payments in spite of revenue constraints. 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