The Federal Government has approved the payment of N413 billion to petroleum products marketers being the outstanding payment for subsidy claims?, even as marketers insist they are owed about N470billion.
The Nigerian National Petroleum Corporation, NNPC, in a statement in Abuja, also said it has injected additional volumes of Premium Motor Spirit, PMS?, or petrol across the country to boost supply of the product and eliminate the long queues that have resurfaced in many parts of the country.
The statement, signed by the Group General Manager, Group Public Affairs Division?, NNPC, Mr. Ohi Alegbe, noted that the payment of the outstanding N413 billion subsidy claims to oil marketers is part of the Government’s initiative of zero tolerance to fuel queues nationwide.
?Alegbe said: ?”It is our belief that with the outstanding payment due to oil marketers now assured, the marketers and other downstream players will join hands with the NNPC to guarantee that the nation remains wet with petroleum products all year round.”
The Department of Petroleum Resources, DPR, had earlier in the week lamented the fuel supply situation in some states in the country, warning that that any petroleum products depots and filling stations owners engaged in sharp practices would be fined heavily and also prosecuted for economic sabotage.
Director of the DPR, Mordecai Ladan, had in a statement in Abuja, warned oil marketers against products diversion, hoarding, pump manipulation and selling products above government approved prices.
According to Ladan, any petroleum products marketer found to be under-dispensing or selling products above government regulated prices shall be suspended for a minimum of two months.
He said, “Marketers caught diverting or hoarding the products for profiteering shall be sanctioned with a fine of two million naira and have their operating License revoked and prosecuted for national economic sabotage.”
Ladan also stated that the DPR is collaborating with the Petroleum Equilisation Fund (PEF) and the Petroleum Products Pricing Regulatory Agency, PPPRA, to ensure that defaulters are sanctioned accordingly.
To this end, he stated that all DPR offices nationwide have been directed to step up their monitoring activity and ensure full compliance by marketers.