Oil marketing conglomerate A-Z Oil Nigeria Ltd yesterday urged the House of Representatives to prevail on the Federal Ministry of Finance to pay the N30 billion debt owed by the Federal Government.
This was as the House Ad-hoc Committee on the Volume of Fuel Consumed Daily in the Country asked oil marketing companies involved in sale of petroleum products to provide records of all crude oil lifted and Premium Motor Spirit (PMS) supplied to Nigerians and foreigners daily.
The chairman of the House Committee Hon. Sa’ad Abdulahi at an investigative hearing on the matter yesterday’s said that the Secretariat of the Committee should write to the Nigeria National Petroleum Corporation NNPC demanding explanation from the agency on the circumstances in which Vitol an oil marketing company was engaged in oil lifting.
Abdullahi said that the fourty-three (43) oil companies invited should provide record of crude oil lifting, clean record of PMS supply on daily basis, letter of authority to lift crude oil and other necessary supporting documents on the subject of the investigative hearing.
The Business Development Manager of A-Z Oil Nigeria Limited Mr Haford Udochukwu during his presentation said that the N30bn debt owed the company by the Federal Ministry of Finance being the differential and interest in oil sales was crippling the company’s business.
Udochukwu urged the House Committee to prevail on the Ministry to offset the debt to enable the company continue to do business, adding that it had stopped fuel importation since December 2017 owing to it.
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