The federal government has approved 413 billion as payment to oil marketers for the debt being owed them.
According to Ohi Alegbe, NNPC’s group public affairs manager, the payment to marketers is in line with the government’s policy of zero tolerance for long fuel qeues in the country, and drive to ensure that petroleum products remain in sufficient supply to the economy.
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 PPPRA, which is responsible for verifying and certifying claims, however, said it had not been notified of the payment.
In order to ensure the adequacy of supply, the department of petroleum resources DPR, said it will fine and prosecute for economic sabotage, depots and filling stations that were involved in sharp practices.
The DPR warned oil marketers against products diversion, hoarding, pump manipulation and selling products above government approved prices.
“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”, Director of the DPR, Mordecai Laden said recently.
