Petrol importers N200 billion subsidy claim is not real - Government

The Federal Government through the Minister of Finance and Coordinating Minister of the Economy, Ngozi Okonjo-Iweala,has faulted the N200 billion claim by oil marketers as outstanding payment on subsidy.
 The Minister faulted the claims on Sunday in Abuja while briefing journalists she was quoted saying,

“As you know, we paid N156 billion recently to the marketers; N100 billion being the principal payment we owed them and N56 billion being interest rate and some remaining exchange rate differentials.

“Prior to that, we paid them N31 billion as exchange rate differentials. At the time we paid that amount last week, what we had outstanding is N98 billion,’’ she said.
“Since we made the announcement last week, the outstanding payment has now risen from N98 billion to N131 billion.
“And they (marketers) are now making a demand of N200 billion and I asked them what is the balance for.”
So, this (marketers claims) must be thoroughly looked into and certified.
“We recognise that the marketers are business people and should be paid; but the rate at which they have continued to hold Nigerians to ransom is discouraging.
“It is unfortunate that this is happening now when the government has prioritised their payment,’’ she said.
“It is actually that template that we have been quarrelling with.
“The template said the marketers must be paid interest rate differentials, profit margin guaranteed, plus the principal amount they spent on the business.
“Based on this, the government is bearing the full risk of their business even now that we have revenue shortfall,’’ she said.
“I strongly suggest that the nation has to do something about it; Nigerians have to do something.
“We have been labouring under this for a long time and it’s been stressful for everybody,’’ she added
(NAN)