N65.1bn subsidy debt: Mobil, Total, others threaten to stop fuel import
By Clara Nwachukwu LAGOS—Major Oil Marketers Association of Nigeria, MOMAN, has threatened to stop the importation of Premium Motor Spirit, PMS or petrol, if the Federal Government did not pay its outstanding N65.1billion subsidy claims. The outstanding sum is the combination of the following: *import claims from 2011 - N49.5billion *bank interest payments – N13.10billion *foreign exchange claims – N2.5billion The majors, comprising Mobil, Total, MRS, Forte Oil and Conoil, however said that only about N9.4billion of the total sum had been paid after much pressure on government, still leaving a huge outstanding of N55.7billion unpaid. The marketers noted that some of these claims have remained outstanding since 2011, with huge implications on their operations. The Executive Secretary, MOMAN, Mr. Obafemi Olawore, told journalists in Lagos weekend that “The implication of the non-payment of our claims is that it is affecting our bottom line, and this will lead to a reduction in petrol imp...