The Federal Government currently owes petroleum product marketers in Nigeria over N200bn as verified and unpaid subsidy claims.
The marketers stated this in a joint statement signed by Depot and Petroleum Products Marketers Association, Major Oil Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria and Nigerian Independent Petroleum Company on Friday, addressed to the Petroleum Products Pricing Regulatory Agency, the Presidency, Ministry of Petroleum Resources and Ministry of Finance.
They said, “We, the downstream petroleum industry companies from the private sector participating in the Petroleum Support Fund scheme, hereby acknowledge receipt of the Quarter 3, 2012 Premium Motor Spirit allocation.
“The current business environment in the sector makes it necessary to bring to your attention factors that inhibit our ability to import the said volumes in Q3, 2012.”
They also said, “Due to the fact that issuance of Sovereign Debt Notes covering balance 2011 and 2012 PMS imports transactions were initially severely delayed and now currently suspended, we have huge outstanding, verified and unpaid subsidy claims in excess of N200bn from the Federal Government.”
Source; trends.com.ng
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