Oil & Gas
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Diezani Alison-Madueke has assured oil marketers that the federal government will soon pay them their arrears of fuel subsidy
| By Anayo Ezugwu | Nov. 24, 2014 @ 01:00 GMT |
THE federal government is to ensure a hitch-free supply and distribution of petroleum products across the country, during the forthcoming festive period. Diezani Alison-Madueke, minister of petroleum resources, is already discussing with the ministry of finance and the Central Bank of Nigeria, CBN, to ensure that the marketers are paid to enable them keep importing petroleum products into the country. She has also briefed President Goodluck Jonathan on the implications of the continued delay in the payment of subsidy to the marketers.
Alison-Madueke told members of the Depot Owners and Petroleum Products Marketers Association, DAPPMA, and the Major Oil Marketers Association of Nigeria, MOMAN, in Abuja, on Wednesday, November 12, that she will ensure that outstanding arrears of fuel subvention owed to petroleum marketers are paid by the end of this month.
In addition to discussing the issue with the ministry of finance, she also scheduled a meeting with Godwin Emiefele, governor of the Central Bank of Nigeria, CBN, to work out ways to get banks not to make good their threats to withdraw facility lines from the marketers on account of the debts arising from the delay in settling petroleum subsidy arrears.
Alison-Madueke’s assurances came on the heels of Dapo Abiodun, chairman, DAPPMA, appeal that the minister should intervene to sort out the issue before it degenerates into another bout of fuel scarcity in the country. Also, Obafemi Olawore, executive secretary, MOMAN, had observed that already stocks of petrol in the various depots in Apapa, Lagos, are fast getting depleted, urging the minister not to allow the nation get to the point where products would dry up from the depots first before intervening as such a situation would not augur well for the country, especially as the end of year festivities approaches.
The petroleum products marketers expressed their gratitude to the minister, adding that they felt reassured by her promise to ensure that the subsidy arrears are settled by the end of the month.
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