The Major Oil Marketers Association of Nigeria (MOMAN) yesterday gave the Federal Government two weeks ultimatum to settle the N200 billion fuel subsidy debts owed the association or be ready for prolonged scarcity.
Executive Secretary of MOMAN, Mr. Obafemi Olawore, issued the threat yesterday in Lagos at a media briefing to update Nigerians on the latest development in the petroleum products supply chain.
Olawore while acknowledging the receipt of N154 billion subsidy claims from the Federal Government, explained that the N200 billion outstanding debt is taking a negative toll on the operations of the association.
The MOMAN scribe said the current fuel scarcity was further compounded by the strike embarked upon by the National Association of Road Transport Owners(NARTO) as a result of the inability of MOMAN to pay it over N20 billion debt.
The secretary explained that with the understanding of the NARTO and Petroleum Tanker Drivers (PTD) that a grace of two weeks be granted to enable government effect balance of the money, the action has been temporarily suspended.
But as part of measures to find a lasting solution to the lingering crisis, he said MOMAN has scheduled a meeting with the Minister of Finance, Mrs. Ngozi Okonjo-Iweala, on Monday, adding that if nothing concrete comes out of the meeting, NARTO members have threatened to withdraw its services of petroleum products lifting.
With this development, he said MOMAN would not be able to offset the N20 billion owed NARTO, rather he said part of the debt would be settled.
Recall that Saturday Sun had last week given a breakdown of the N356.2 subsidy debt to include; outstanding debt on forex and interest N215,868,237,459 while payment for Batch T of 2014 stood at N21,920,240,980.23 and Batch U 2014 at another N8,607,109,593.82 with Batch A 2015 amounting to N6,873,232,365.66 and Batch B 2015 at N2,911,139,639.70.
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