Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Fuel marketers call for release of N413bn subsidy claim

13 November 2015, 10:08

Lagos - Some accredited oil subsidy marketers on Thursday said the failure of Federal Government to release the approved N413 billion subsidy debt was disrupting their fuel importation schedule.

The marketers made their feelings known in an interview with the media in Lagos.

They said thad they were concerned that the money had not been released one week after the approval was granted.

The marketers alleged that the delay was affecting loading activities at depots and had led to the shutting down of some filling stations due to non-availability of petroleum products.

"Government, through the Central Bank of Nigeria, has not released any subsidy claims as promised.

"As I am talking to you we have been directed by the CBN to go and meet the Debt Management Office for clarification.

"All our efforts to get the said money have been in vain and to start importing has been a serious problem.

Also read: Fuel subsidy drops by N1.7bn daily

"There is no money to back up the cheques presented to the marketers.

"We do not even know the basis for the clarification of the cheques, but we are aware that there is no money in the account.

"It is like giving the marketers cheques only to discover that there was no money in the account.

"Nothing like importing now because all marketers are angry because of the failed promised," one of the marketers al

The market said; "If you go outside Lagos you know how much they are selling fuel per litre now, it is the last stock that we are selling now.

"It is unfortunate that the Department of Petroleum (DPR) is saying that we are hoarding the products, which is not the truth.

"We have not collected a single coin from the money.

"If not the fact that some of the marketers are making some money from other products, how do you think we will be able to get anything for now?

"We have been summoned by DPR for a meeting this morning to settle the crisis, we are only managing what we have in stock at present," he said.

The Federal Government, had on Nov. 3, approved the sum of N413 billion to petroleum products marketers as the outstanding payment for subsidy claims.



Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...