Marketers rise from a meeting with the government with assurances of continuous suppply Emsaro Pedro

Oil marketers in the country have assured Nigerians that there is no need for panic buying. The marketers at a meeting with the government representative restated their support to the on-going subsidy payment audit and promise to continue effective distribution of fuel to their various outlets across the country.

The meeting which held in Abuja on Friday was chaired by the Minister of Finance and the coordinating minster of the economy, Ngozo Okonjo-Iweala.

Chief Executive Officer, CEO, of Folawiyo Energy, Dipo Makanjuola, said the audit was necessary and the marketers were on the same page with the government team on the matter of verification.

“There is a verification exercise that is on-going by a firm of auditors and we expect that it will be concluded by the end of next week. Subsequently, payments will be made.Basically the amounts that we have? are all outstanding; we have agreed. We are basically on the same page. So we hope that subsequently, we can move from there and continue to support government in this regard.We would like to assure Nigerians that there is no need for panic buying. There are adequate products in the country,” Makanjuola assured.

He blamed the impression that the nation was running short of petroleum products on inadequate information, which some people are exploiting to their selfish end thereby creating panic.

“Unfortunately, in situations like this, people tend to peddle false information. And I am sure that in the next few days the situation would be normal around the country,” he added.

Evaluating the progress made in the audit,  the CEO of Oando Plc, Yomi Awobokun, said that the auditors had completed work in his company, adding that the mandate of those undertaking the verification was very clear. He  described the exercise as necessary and in the interests of all genuine marketers and Nigerian public.

“Against the backdrop of what has transpired in the industry, we fully support the requirement to ensure that there is a thorough exercise and understanding in clear terms before subsidy payments are made”

?The process is on-going. It is a necessary process that the industry needs and I am sure that Nigerians will be happy when that process is concluded. The minister has also assured us that the government is not broke; as it was being rumoured but only want to  indeed to ensure that companies that supplied fuel that  will get their money and we appreciate that.? Awobokun said.

The Oando boss added that ?the marketers are prepared to ensure that the exercise is thorough and completed. We are doing everything we can to ensure that distribution continues. We will continue to distribute the products. The NNPC has agreed to support us.

?As I speak to you, there is a lot of oil in Apapa. Right now, the NNPC has ensured that there are three cargoes in Apapa, discharging, to ensure that there is fuel in all parts of the country. And I expect that the efforts will continue.?

On her part, Okonjo-Iweala confirmed that the two sides have agreed to work together for a transparent process in the subsidy administration and that the marketers had agreed to continue to ensure adequate products supply across the country.

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