Fuel Subsidy: Senate Faults FG Over Non-payment

Oil Marketers Nigeria
  • Fuel Subsidy: Senate Faults FG Over Non-payment

The Senate has faulted the Federal Government’s failure to pay subsidy claims by petroleum product marketers despite the claims been approved by the National Assembly since July.

At a meeting of stakeholders, organised by the Senate Committee on Petroleum (Downstream) in Abuja on Wednesday, senators criticised government agencies for not paying petroleum product marketers what was owed and as at when due.

The committee instructed the Ministry of Finance to meet with other government agencies and the marketers within one week to address the issue and discuss how to fast-track the payment of arrears.

The National Assembly had in July 2018 approved a total of N348 billion to be paid to oil marketers as requested by the president.

A total of 55 oil marketers were approved to be paid N275,750,415,108, the upper chamber of the National Assembly asked 19 marketers “with contentious claims and verified figures” to be paid 65 percent of their claims, totaling N73,452,639,866, pending verification by the committee.

However, since approval, the money has not been paid. The Chairman of the committee, Senator Kabiru Marafa, explained that the meeting was to know the situation with the 19 marketers with contentious claims, the solution to the conflict of subsidy between marketers and government and if the Senate’s resolution has been implemented to put an end to the crisis.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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