The Major Oil Marketers Association of Nigeria, MOMAN, on
Wednesday said Federal Government had assured of full settlement of all debts
owed on importation of petroleum products.
The Executive Secretary of MOMAN, Obafemi Olawore, told the
News Agency of Nigeria in Lagos on Wednesday that the government had
demonstrated positive disposition to defray the N660 billion owed to oil
marketers.
Mr. Olawore said that government and MOMAN officials had
been holding meetings on how to reconcile the debt figure to enable payment to
be made, adding that solution was in sight.
He lauded the government for convening the stakeholders’
forum to discuss pertinent issues that would support effective distribution of
petroleum products across the country.
He said that the meeting considered various frameworks and
options for the reconciliation and resolution of outstanding subsidy claims
from previous years.
Mr. Olawore added that the meeting also discussed foreign
exchange differentials, delayed payments interest and bridging claims which
were expected to boost and sustain the fuel supplies.
“The government has stressed the importance of continued
private sector participation in the entire downstream sector value chain and as
such, find lasting solution to the outstanding debt.
“Government is trying its best; we are going to give them
full support. They have told us their challenges which we are aware of and they
are making all effort to pay all outstanding debts.
“They have promised that at the end of the reconciliation
everything will be settled,” he said, adding that there were some areas where
the marketers would pay some money to the government.
He explained that the recent payment of N150 billion to the
marketers through the Petroleum Equalization Fund (PEF) was for bridging of
products.
According to Olawore, the N150 billion was money owed
marketers on transportation of products from one destination to the other
outside a particular region.
He said that the debts comprised bridging arrangement,
products importation arrangement and Nigerian National Petroleum Corporation
(NNPC) arrangement on cost of products.
NAN recalls that on January 18, oil marketers appealed to
the government to settle subsidy arrears of over N660 billion to enable them to
strengthen their capacities for importation of petroleum products.
However, on January 26, the government ordered immediate
payment of N150 billion to independent oil marketers across the country. It was
intended to check the threat to steady supply of the products.
(NAN)
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