OIL marketers’ threat to shut down operations over outstanding N800b oil subsidy debt by the federal government has been dismissed as an unpatriotic stance.
The association of downstream oil sector operating under the aegis of Independent Petroleum Products Importers (IPPIs) had last week issued a seven-day ultimatum to the federal government to pay the debt.
But the Buhari Media Organisation (BMO) in a statement issued on Wednesday cautioned a group of oil marketers against what it called scaremongering and blackmail over a debt burden inherited from the previous administration.
Niyi Akinsiju and Cassidy Madueke, chairman and secretary of the Buhari Media Organisation said “there is no basis for Independent Petroleum Products Importers (IPPIs) to resort to such tactics over a debt matter that this administration was not responsible for.
“For the avoidance of doubt, the issue raised by the IPPIs is an inherited one but the Buhari administration is not shying away from paying the debt in line with the approval of the Federal Executive Council (FEC).
“In fact, the Buhari administration has paid N330 billion of this debt as approved by the National Assembly and has issued Promissory Notes for the settlement of the rest of the debt.
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“The Debt Management Office (DMO) has since activated the process of payment after the requisite clearance was secured from the National Assembly but it has to follow due process.”
The BMO further noted that it was wrong for the marketers to raise dust over the government’s intention to settle the outstanding arrears through promissory notes.
“It was clear from the outset that the debt would not be paid by cash and that was why the DMO came into the picture.
“There was no time the government agreed for cash payment so there is no need making such demand so close to the yuletide period.
The group also urged IPPI to toe the line of the Independent Petroleum Marketers Association of Nigeria (IPMAN) and other groups of marketers who did not see the need to issue threats.
“We acknowledge the decision of other oil marketers under the aegis of IPMAN to disassociate itself from the 7-day deadline even when their money is part of the N800b subsidy debt.
“By opting not to shut their facilities, IPMAN members have proved to be patriots who are prepared to allow the payment process to run its full course.
“It would be ideal for IPPI to take a cue from the more industrious group of marketers and allow Nigerians enjoy the new lease of life in the downstream sector,” the group added.
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