Nigeria still owes over N300 billion subsidy claims to major oil marketers for fuel imports between 2014-2015.
This is according to Group Chief Executive Officer (GCEO) of Forte Oil Nigeria, Akin Akinfemiwa.
Presenting himself before the House of Representatives adhoc committee investigating debts owed to the Petroleum Pipeline Marketing Company by oil marketers, Akinfemiwa revealed that N13.8 billion out of the debt is owed to Forte oil.
He added that Forte Oil owes the sum of N5.9 billion to the PPMC, after a payment of N5 billion in December 2016, adding that efforts are already ongoing to settle the subsidy debts.
The committee led by Abdullahi Mahmud Gaya mandated Forte Oil to pay at least half of the N5.9 billion debt it owes to the PPMC, or risk a cut in fuel supply from the agency.
The committee also decried the absence of the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, before the panel in the on going investigation into the $17 billion stolen through undeclared crude oil and liquefied natural gas exports to global destinations between 2011 and 2014.
Oil marketers had earlier called out the Nigerian government over a N660 billion subsidy debt
