In The News
Oil marketers have confirmed that the Federal Government has paid them over N400bn petrol subsidy claims and also explained why the country is still experiencing fuel scarcity.
According to them, the actual payment of the subsidy claims was done about a week ago after a directive was given by President Muhammadu Buhari mandating the concerned agencies to settle the debt.
The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Obafemi Olawore, Explained that although the marketers had started importing petrol, it would take a minimum of three weeks for the product to get to Nigeria and for it to be discharged from the various import vessels.
When asked to state if the marketers had been paid and why there is still petrol scarcity, Olawore said, “Subsidy has been paid but you have to calculate when it was paid, which was around last week. And when it was paid, we didn’t get it until the President directed that they must pay it immediately. And it took more than four to five days before we got it.
“Now, even though the subsidy has been paid, it takes two to three weeks to bring in cargos from Europe. The minimum time it takes to bring in a vessel from Europe is two weeks and it takes about one week to have it discharged. So, at the earliest, three weeks will pass to complete the process.”