FG Pays N48.2bn Subsidy Arrears to Marketers


Ndubuisi Francis in Abuja

The federal government last week paid N48.2 billion outstanding subsidy arrears to oil marketers as claims for 2015 to enable them import petroleum products and meet up with their other financial needs, the Ministry of Finance revealed on Tuesday.

A statement issued by the Director (Information) in the ministry, Salisu Na’inna Dambatta quoted the Minister of Finance, Mrs. Kemi Adeosun to have said that the federal government authorised the Debt Management Office (DMO) to pay the claims less tax liability of N5.171 billion, which was computed by the Federal Inland Revenue Service (FIRS).

“The gross total outstanding subsidy claims accruable to the oil Marketers for 2015 stood at N48, 207, 176, 262.44, while deductable tax liabilities payable to the Federal Inland Revenue Service stood at N5, 171, 186, 373.05 only.

“Giving details of the payments, Mrs. Adeosun stated that Oil Marketers without Tax Liabilities were paid in full, while Oil Marketers with net subsidy claims and FIRS liabilities were paid net claim after deduction of tax liabilities.”