The lingering face-off between the Petroleum Products Pricing and Regulatory Agency (PPPRA) and marketers of petroleum products is not over yet.
The PPPRA has told the embattled marketers that both the controversial bridging claims under the Petroleum Equalisation Fund (PEF) and the administrative charge of 15 kobo per litre from the outstanding claims of petroleum products marketers would be deducted paying any outstanding claims on subsidy. About N23 billion outstanding claims are said to have been held up to marketers under Batch F.
The payment was said to have been stopped on the orders of the Minister of State for Petroleum, Mr. Odein Ajumogobia who insisted that the PPPRA should not to pay Batch F marketers until they settle their own indebtedness.
Sources at recent meeting that was held between the PPPRA and parties in the face-off to resolve the controversies surrounding the payment under the Petroleum Support Fund (PSF) told our correspondent that the position of the agency not to pay until the deductions were made was one of the high points of the well-attended meeting.
Under the PSF which is provided by the government and managed by the PPPRA, the agency used to pay importers of petroleum products the difference between the government’s official price of N65 per litre and the landing cost of the products.
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