FG Pay N48bn Subsidy Arrears for 2015, Withholds Payment of Tax-Defaulting Marketers

The federal government has stated that it had paid a total sum of N48.2 billion to oil marketers, being the arrears of fuel subsidy payments owed the marketers for the year 2015.

According to reports from Vanguard, the ministry of finance in a statement signed by its director of press, Alhaji Salisu Naina, disclosed that the payments were made last week, to enable the marketers import petroleum products and meet up their financial needs.

The statement also quoted the finance minister, 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.”

Adeosun stated that oil marketers without tax liabilities were paid in full, while those with net subsidy claims and FIRS liabilities were paid their net claim after deduction of their tax liabilities.

Mrs Adeosun further stated that all oil marketers that were indebted to the FIRS and the seven oil marketers that were indebted to the Asset Management Company (AMCON) would not be paid until they have settled their debts with the two agencies.