The Debt Management Office (DMO) said it has resumed the issuance of sovereign debt notes for payment of subsidy to oil marketers.
The Director-General of the Office, Dr Abraham Nwankwo, made this known in an interview in Abuja on Wednesday.
“The Finance Minister, Dr Ngozi Okonjo-Iweala, did inform the public and in did, directed the DMO that the issuance of the sovereign debt notes as part of the process of paying oil marketers the subsidy element for petroleum product they supplied to Petroleum Products Pricing and Regulatory Agency (PPPRA) should resume.
“So the DMO has resumed accepting sovereign debt statements, which are the documents from the PPPRA, evidencing and authenticating that oil marketers have delivered appropriate products and they are, therefore, qualified to receive payment,’’ he said.
According to him, the processing of documents presented by the PPPRA has been in progress since the directive from the minister.
He said that the process would restore normalcy to the processing and settling of genuine subsidy claims, adding that issuance of the note would be continuous.
Nwankwo said that issuing the debt notes would help to give confidence to those who provided funding to the oil marketers.
“As far settling of genuine claims for oil marketers is concern, the government is on track,’’ he said.
It may be recalled that the Minister of Finance, Dr Ngozi Okonjo-Iweala, had on July 26 directed the DMO to commerce payment of subsidy to oil marketers based on verified claims.
In a statement signed by Mr Paul Nwabuikwu, the Senior Special Assistant to the Minister on Media, she directed the DMO to pay marketers with verified claims as soon as supporting Sovereign Debt Notes were provided by the PPPRA.
According to her, the directive is to reinforce the Federal Government’s determination to ensure that there is no disruption to fuel supplies across the country.
- NAN