Oil marketers claim subsidy debt of N131b.
The Major Oil Marketers Association of Nigeria (MOMAN) yesterday claimed that its members were owed N130.7 billion in subsidy by the Federal Government as of August 2018.
At a media briefing in Lagos, the association’s chairman, Andrew Gbodume, alleged that subsidy payments on imported petroleum products were yet to be made months after the National Assembly’s figure reconfirmation and approval.
One of the major challenges the downstream petroleum sector is still facing, according to him, was the non-payment of outstanding fuel subsidy to oil marketers.
He said: said: “We appreciate the efforts of the National Assembly, but the non-payment creates a significantly negative impact on the operational efficiency of the downstream sector of the oil industry, thereby placing a severe strain on the move to continually invest in infrastructure and raise industry standards. We hope that the debts will be paid in full to the oil marketers as soon as possible.”