Oil Marketers Resume Imports

Oil marketers have intensified efforts to resume the importation of petroleum products, which they had suspended following the delay in the payment of their subsidy claims. The change of mind is informed by the continued payment of outstanding subsidy claims to some oil marketing and trading companies by the Federal Government.

This is coming as the Nigerian National Petroleum Corporation (NNPC) brought in one additional vessel, CAPTAIN GREGORY, carrying about 20,000 metric tonnes of petrol, to ease the scarcity occasioned by major marketers’ refusal to import petrol. The importation of the cargo, which berthed at the Bulk Oil Jetty at Apapa, was part of the efforts by the NNPC to bridge the supply gap created by the initial refusal of private marketers to bring in petroleum products due to unpaid subsidy claims.

The Federal Government said it had paid a total of N259, 339, 041, 657.85 as subsidy claims for 2012 and the arrears of 2011 claims. Based on the Federal Government’s gesture, some of the marketers have concluded arrangements to resume importation of products.