BAYELSA PETROLEUM TASK FORCE KICK AGAINST INCREMENT OF PETROLEUM PUMP PRICE BY MARKETERS IN THE STATE.

 The Chairman of the Bayelsa State Petroleum Task Force, Mr. Emmanuel Okosukeme has reportedly rejected and kicked against what has been described as subtle moves by some oil marketers to increase fuel price in the State.

Mr. Emmanuel Okosukeme who assured Bayelsans of the government’s move to take swift actions to stop oil markers from increasing pump prices in the State , also warns marketers against plans to hoard the product to worsen the fuel scarcity crisis in the State.

The Chairman of the State Petroleum Task Force in Bayelsa State, while calling on the oil marketers to settle their price differences with the Federal Government before carrying out such actions that are inimical to State growth , has said the edged issues are accumulation of  misunderstanding ongoing between Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association, and the Independent Petroleum Marketers Association of Nigeria and the Nigeria National Petroleum Cooperation.

Throwing more light on the issues, Mr. Emmanuel Okosukeme said,
“The key issue is a price war and the landing cost as it is right now, noting that the various marketers like DAPPA, IPMAN, MOMAN and the rest are complaining that they can’t bring in products because they can’t absorb the subsidy, and that they don’t have access to foreign exchange.

The marketers have made representation to the Federal Government and the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, to allow price hike of petroleum products and leave the sector to market forces.

The Chief Executive Officer/Executive Secretary, MOMAN, Mr Clement Isong in an earlier report said, Oil marketers under the aegis of the Major Oil Marketers Association of Nigeria and the Depot and Petroleum Products Marketers Association agreed on the increments that are to take full effect is a call for the payment of the outstanding debts from subsidy owed them by the Federal Government.

According to Mr. Isong , “This debt, most of which we in turn owe banks, has completely blocked or limited our ability to access credit. We have reached the full extent of our credit with the banks; so, we are struggling to do business. We really need to get paid the outstanding subsidy by government.”

“The debt owed MOMAN only is N130.7bn, that is subsidy and interest. What is owed the industry as a whole, I think, is about N400bn. Government should pay what is outstanding; it has been a long time.”