…as subsidy gets 88% of supplementary budget
THE Nigerian National Petroleum Corporation, NNPC, said it has reached an agreement with oil marketers to end scarcity of petrol currently being witnessed by Nigerians.
NNPC in a statement signed by its Group General Manager, Public Affairs, Ohi Alegbe, in Abuja stated that the commitment of oil marketers to support measures put in place by the federal government to restore sanity to fuel supply and distribution condition will within days ensure that the scarcity ends.
It explained that at the end of a strategy session convened by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu to address the fuel situation, members of the Major Oil Marketers Association of Nigeria (MOMAN); Depot and Petroleum Products Marketers Association (DAPPMA) and the Jetty and Petroleum Tank Farm Owners of Nigeria (JEPTFON), the parties agreed to end the fuel queues as soon as possible.
While pledging to eliminate all bottlenecks to fast track the process, Dr. Kachikwu urged the oil marketers to see the initiative as a national call to action. “We have gotten DPR, PEF and PPPRA to be a bit more flexible with the rules to allow for more movement of trucks and products massively,” he said.
Speaking on behalf of MOMAN, Femi Olawore, Secretary General of the Association was emphatic that the majors are willing and ready to work with the Petroleum Ministry and the NNPC to restore normalcy to the fuel situation.
Dapo Abiodun, leader of the DAPPMA delegation pledged the commitment of his members to work towards the achievement of Federal Government’s objective in ensuring free flow of petroleum products across the country.
Chairman of JEPTFON, Chief Ifeanyi Uba, while pledging the readiness of the petroleum tank farm owners to support the initiative, called for government assistance in clearing the perennial traffic jam at the Apapa loading gantries.
Meanwhile, in another development, fuel subsidy payment got a huge chuck of 88% from the N465bn supplementary budget current at the National Assembly for government activities in remaining part of 2015.
Out of the amount, subsidy payment on supply of petrol was allocated N413.36 billion, representing 88 per cent of the total proposed supplementary budget, National Daily learnt.
Speaking on delays in the disbursement of the subsidy debt owed to petrol marketers, the minister assured marketers that they will get their money within a week or two, once the Legislature approves the payment.