The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has promised to help in fast-tracking the payment of outstanding arrears of fuel subvention owed to petroleum marketers before the end of the month.
Alison-Madueke gave this assurance at a meeting with members of the Depot Owners and Petroleum Products Marketers Association, DAPPMA, and Major Oil Marketers Association of Nigeria, MOMAN, in Abuja. She said she was already in consultation with the Minister of Finance on the issue.
The intervention by the minister was said to be aimed at ensuring a hitch-free supply and distribution of petroleum products across the country, especially during the festive period.
She also said that she had scheduled a meeting with the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emiefele, to work out ways of getting the banks from making good their threats to withdraw facility lines from the marketers on account of the debts arising from the delay in settling petroleum subsidy arrears.
The petroleum products marketers expressed their gratitude to the Minister for her efforts, saying her promise had reassured them that the subsidy arrears will be offset by month end.