Street Journal’s investigations have revealed that Nigerians may have to endure the fuel situation a little longer. It has been found out that despite the passage of a supplementary budget of N 161.6 billion about three weeks ago for fuel subsidy for the tail end of 2012, marketers are still being owed by the Federal Government. Findings also revealed that the Central Bank of Nigeria is yet to get the back up of the Minister for Finance, in other words, the account has not been credited.
Petroleum marketers who were at the Central Bank to get their payments were told that there was no money in the subsidy accounts and as such they could not be paid. The situation might bring about a break in the supply of products to filling stations across the country. Though the marketers have Sovereign Debit Notes, they were reportedly turned back by the CBN. One of the marketers who were at the CBN on Monday stated that “it is the Minister of Finance that normally tells the Accountant General of the Federation to fund the account; but as I speak to you, this has not been done. So we are still being owed.”
Central Bank’s Director of Corporate Communications, Ugochukwu Okoroafor absolved the CBN of any blames as he pointed out that the job of financing the subsidy payment is that of the Ministry of Finance and not that of the Central Bank.