Minister of Finance, Ngozi Okonjo-Iweala will today meet with Petroleum Marketers to discus the disagreement and hopefully reach a resolution on fuel subsidy debt.
Punch reports that Minister of Finance, Ngozi Okonjo-Iweala says the government owes marketers N131 billion, however; the marketers insist that they are still being owed N200bn after last week’s payment of N154 billion.
A meeting is
scheduled to hold today in which Okonjo-Iweala and the marketers discuss
the disagreement, and hopefully reach a resolution.
Speaking on the issue, Executive Secretary, Major Oil Marketers Association of Nigeria, Thomas Olawore,
told newsmen that “the government had paid N154.2 billion out of the
N354.4 bilion it owed the independent and major marketers as well as the
depot owners, leaving a balance of N200.2 billion.”
However, the Finance Minister stated,“as
you know, we paid N156bn recently, N100bn of the principal payment that
we owe them and then we paid N56bn interest rate and some remaining exchange rate differentials. Prior to that, we had just paid N31bn exchange rate
differentials. So, at the time we paid that last week, what we had
outstanding was N98bn.”As of now, since we made the announcement last
week, it has now risen from N98bn to N131bn outstanding in principal
payment. And they are now making a demand of N200bn and I ask them what
is the balance for?”
Olawore further stated “We
will explain to her that it is N200.2bn. The PPPRA is there as the
middle party and will be able to establish the truth based on the agreed
template.”
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