Finance Ministry Explains Oil Marketers’ Demands

Channels Tv

The Ministry of Finance has reacted to the claim by the oil marketers association that it is still being owed by the federal government.

Reacting to the claim, the media aide to the Finance Minister, Mr Paul Nwabuiukwu, told Channels Television over the phone that the marketers are demanding the payment of 159billion naira which is foreign exchange deferential of the money owed.

Mr Nwabiukwu said that the government has insisted that the claim has to be verified by the ministry and the Central Bank of Nigeria because of the history of the marketers

He said Nigerians will not be happy with the government if such payment is made without verifications by the Finance Ministry.

The Executive Secretary of the Major Oil Marketers Association, Mr Obafemi Olawoore, had earlier told Channels Television that the union was only ‘demanding that the money marketers are owed should be paid’.

“It is not that we are not bringing in fuel. The problem is that we are not bringing enough and the reason we are not bringing enough is simple. If you pay 154 [billion Naira] out of out of 354 [billion Naira] you are left with 200 [billion Naira]. That is not up to 50 per cent.

“What we are saying is that we should make attempt to pay. Banks should agree to open their of lines of credit so that we can access funds and bring in more products while the government talks to us.

“As we speak, nobody is talking, so we do not know the thinking of anybody. There is no crime in asking for the money. They are owing us some money and we want the money,” Mr Olawoore said.

Olawoore added that three jetties controlled by the union in Apapa, Lagos State, were discharging fuel, but lack of fund has affected the importation of petroleum products.