petrol pump PHOTO: Shutterstock
The Independent Petroleum Marketers Association of Nigeria (IPMAN), Zamfara chapter, has called on the Federal Government to make timely payment of their Petroleum Equalisation Fund (PEF).
The IPMAN Chairman in the state, Alhaji Surajo Kamba, made the call on Thursday while briefing newsmen on the recent fuel scarcity in Gusau, the state capital.
Kamba said that the payment of bridge allowances to their members would enable them to supply the products to every nook and cranny of the country in good time. x
He condemned the calls by some Nigerians for the scrapping of PEF under the Petroleum Industry Bill currently before the National Assembly.
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Nigerians were last week thrown into confusion as fuel scarcity hit Lagos, Abuja, and several other cities across the country.
Residents besieged fuel stations in major cities across the country, in anticipation of yet another season of fuel crisis. Motorists scrambled to fill their tanks as long queues resurfaced in petrol stations.
The scarcity, at a time of a global rise in crude oil prices, shook the nation despite the assurance given by the Nigerian National Petroleum Corporation (NNPC) that
TODAY
March 9, 2021
There will be more money for the 2021 budget implementation as the crude oil price on Monday hit $71/ barrel which doubles the $30 benchmark.
But the spike in crude oil price implies that Nigerians will pay more for a litre of petrol as the landing cost will also rise, experts have said.
Brent crude on Monday rose above $70 a barrel for the first time since the COVID-19 pandemic began; while U.S. crude touched its highest in more than two years following reports of attacks on Saudi Arabian oil facilities.
Yemen’s Houthi forces had fired drones and missiles at the heart of Saudi Arabia’s oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports in what Riyadh called a failed assault on global energy security.
Senate uncovers N120bn differential in subsidy payment as IPMAN kicks tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
“The amounts reflected in FAAC records at the OAGF (Office of the Auditor-General for the Federation) of N443,940,559,974.80 as subsidy payments during the year 2016 is at variance with the total amount paid of N563,283,294,925.47 in the records of PPPRA as subsidy payments during the year 2016,” the report said.
But the National President of IPMAN, Elder Chinedu Okoronkwo, told the committee members that the union has over 50,000 members across the country.
He added that the agency did not know the real beneficiary of the N80 billion difference.
He said: “We have over 50,000 members cut across the nooks and cranny of the country. We don’t know the real beneficiaries of the subsidy payments. If you give us the list of the beneficiaries of the subsidy, we can now reach out to them.”