Michael Olugbode
31 October 2008
Maiduguri — Independent Petroleum Marketers Association of Nigeria (IPMAN) has complained that the Federal Government still owe its members about N12 billion due on equalisation fund.
Speaking to newsmen in Maiduguri, during the Department of Petroleum Resources (DPR) meeting with IPMAN National Secretary, Alhaji Zarma Mustapha, said though the Federal Government tried to pay marketers their bridging claims, it was quite unfortunate that about 70 per cent of the approved N17 billion still remained unpaid.
He said "the Federal Government has released about 30 per cent of the N17 billion approved earlier by the Federal Executive Council about two months ago, and marketers are waiting for the remaining balance, so that the backlog could be cleared while they get their money to remain in business."
He said the major challenge faced by marketers in the north east geo-political zone was haulage/lifting of petroleum products, noting that since almost all the depots in the north were down, marketers are compelled to bridge fuel from the southern part of the country and this makes the amount expended on transportation huge.
Mustapha said it has become a painstaking exercise to get the claims on bridging of petroleum products, as the Petroleum Equalisation Fund has to process, vet and pass the claims before payment could be made.
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