Nigerian National Petroleum Company Limited (NNPC Ltd.), tok say dem never pay fuel subsidy give anybody since di last nine months.
Alhaji Umar Ajiya wey be di Chief Financial Officer of the company, tok on Monday for Abuja say NNPC Ltd. Dey only take care of petrol importation wahala between di company and di federation.
Since eight months ago naim NNPC never pay anybody di money for subsidy,
No marketer don receive any money from us for subsidy.
Wetin dey happen be sey we dey import fuel, wey dey land for one price and government dey tell us make we sell for half di price.
So di difference between di landing price and that half price na wetin we dey call shortfall.
And di arrangement na between the Federation and NNPC Ltd., to balance accounts, sometimes dem go give us money, so no money dey change hand with any marketer for the name of subsidy,” he yan.
According to am, credit lines dey common for downstream business based on how di world commercial system dey, and di company don dey inside open credit agreement with PMS suppliers before, with terms to pay later.
Dapi Segun, di Executive Vice President, Downstream, NNPC Ltd., still talk say to get open credit agreement with suppliers show how credible di national oil company don build over time.
“For di matter of how much we dey owe suppliers, no be as dem tok am, e dey actually lower pass di N6.8 billion.
“The main thing na di relationship wey we get with our suppliers to make sure say we dey keep our promise to pay dem, and we don dey do am over time.
“You go understand say no be fixed amount, and I no wan dey quote any figure, when we pay the amount go reduce, when dem supply product e go increase.
“Na dynamic way, but the main thing na to make sure say PMS dey available everywhere for the country,” he tok.
