{"id":28821,"date":"2018-12-18T12:54:55","date_gmt":"2018-12-18T11:54:55","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=28821"},"modified":"2018-12-18T12:54:55","modified_gmt":"2018-12-18T11:54:55","slug":"nigeria-pays-oil-marketers-n236b","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nigeria-pays-oil-marketers-n236b\/","title":{"rendered":"Nigeria Pays Oil Marketers N236b"},"content":{"rendered":"<p>The Chief Operating Officer, Downstream, Nigerian National Petroleum Corporation (NNPC), Mr\u00a0\u00a0Henry Ikem-Obih, has disclosed that \u00a0the Federal Government has paid the agreed N236 billion as first tranche of the outstanding subsidy claims to oil marketers<\/p>\n<p>Ikem-Obi, who disclosed this in an Interview with the News Agency of Nigeria (NAN) on Monday in Abuja, explained \u00a0that government, through the Central Bank, had directed banks to freeze interest on loans related to the scheme.<\/p>\n<p>\u201cYes, I can confirm that the promissory note has been issued; in fact, they were ready on Wednesday. The marketers got emails inviting them to come and receive them on Monday.<\/p>\n<p>\u201cBy the end of Tuesday, they were actually ready from the Debt Management Office (DMO). We had a meeting with the CBN Governor on Thursday and they were informed officially, the Director General of DMO was there that they should pick up the promissory note.<\/p>\n<p>\u201cMost of them were waiting for that meeting with the CBN governor, it went very well. one of the things that CBN governor has taken the initiative to do is to ask the banks to freeze the interest on any loan\u00a0\u00a0that are related to that scheme, the outstanding payment, from end of June 2017 to date.<\/p>\n<p>\u201c Those are some of the additional concessions that government has done,\u2019\u2019 he said.<\/p>\n<p>According to him, all the promissory notes for this first tranche will mature by 2019.<\/p>\n<p>\u201cThe CBN governor will give the Liquid assets status; so, it is as good as cash,\u2019\u2019 he added<\/p>\n<p>Commenting on petrol scarcity, he said that at the moment, the country had in stock 2.7 billion litres of Premium Motor Spirit (PMS) that would last for 54 days and still importing.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>He noted that in terms of supply, the NNPC was very robust and had never been this good in the least 10 years, at this time of the year.<\/p>\n<p>\u201cWe are very good with distribution in terms of how much products is on land because 2.8 billion litres is what is between Lagos waters and land.<\/p>\n<p>\u201cMost Farm tanks cannot receive PMS at the moment; our vessels have to queue for days to be able to discharge to the storage.\u2019\u2019 He added<\/p>\n<p>Also, petroleum products marketers had also confirmed receiving payment of N236 billion from the Federal Government for the first tranche of the outstanding fuel subsidy claims.<\/p>\n<p>The\u00a0\u00a0Executive Secretary of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Mr Olufemi Adewole, said, however, that the oil marketers still needed clarifications as regards the payments made by the Federal Government.<\/p>\n<p>\u201cYes, we collected promissory notes, but we need clarification. DAPPMAN chief executive officers are reviewing the total scenarios and would meet with the Senate Committee, which has been of so much help to iron out things.\u201d<\/p>\n<p>He further confirmed that the payment was made via promissory notes, adding that DAPPMAN was already reviewing the situation.<\/p>\n<p>He confirmed that the petroleum marketers would be meeting with the Senate Committee on Downstream to address other pending issues.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Chief Operating Officer, Downstream, Nigerian National Petroleum Corporation (NNPC), Mr\u00a0\u00a0Henry Ikem-Obih, has disclosed that \u00a0the Federal Government has paid the agreed N236 billion as first tranche of the outstanding subsidy claims to oil marketers Ikem-Obi, who disclosed this in an Interview with the News Agency of Nigeria (NAN) on Monday in Abuja, explained \u00a0that &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":15642,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[2636],"coauthors":[2391],"class_list":["post-28821","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-oil-marketers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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