FG pays marketers N48.2bn 2015 subsidy arrears

 
The Federal Government has paid oil marketers arrears of 2015 subsidy claims totaling N48.2 billion. The Ministry of Finance disclosed this, yesterday, in a statement by the Director of Press, Alhaji Salisu Naina,that the payment was made last week, to enable them import petroleum products and meet up their other financial needs.
He quoted the Minister of Finance Mrs. Kemi Adeosun, as saying “the Federal Government authorized 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: “Oil Marketers without Tax Liabilities were paid in full, while those with net subsidy claims and FIRS liabilities were paid net claim after deduction of tax liabilities.” She further stated that all oil marketers that were indebted to the Federal Inland Revenue Service and the seven oil marketers that were indebted to the Asset Management Company, AMCON, were not paid until they settled their debts with the two agencies.