The sudden emergence of queues at filling stations in some parts of the country due to scarcity, despite assurances by the Nigerian National Petroleum Corporation (NNPC) that there are enough petroleum products that will last for more than one month, took many motorists by surprise, leading to panic buying and hoarding.

The scarcity, acording to government, was due to industrial action by the National Union of Petroleum and Natural Gas Workers (NUPENG) protesting non payment of subsidy to indicted marketers by the Federal Government.

The Federal Government, however, alleged that the NUPENG leadership was compromised because the same union supported the fight against corruption in the downstream sector.

Minister of Finance and the Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, had insisted that until the necessary investigations are concluded and the indicted marketers prosecuted, it would not pay any outstanding subsidy claims to the marketers.

According to report, the affected marketers allegedly sourced and distributed N1 billion to NUPENG and the National Association of Tanker Drivers, to encourage them to help it frustrate the attempt by the Federal Government to prosecute them.

In the last couple of days, the oil marketers, under the aegis of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA), the Jetty and Petroleum Tank Farm Owners of Nigeria (JEPTFON) and the Major Oil Marketers Association of Nigeria (MOMAN), have been threatening to shut down their facilities if the government continues to delay the payment of their outstanding subsidy entitlements.

However, Okonjo-Iweala held a meeting with the NUPENG and other stakeholders in Lagos during the week, in order to make them see reason with government on why the fight against subsidy theft must be fought to a logical conclusion.

This has, however, led to the suspension of the strike.

The AIG Imokhuede-led Presidential Committee on Verification of Subsidy Claims had indicted no fewer than 25 companies, some of whom are sons of prominent Nigerians and are already being prosecuted by the Economic and Financial Crimes Commission (EFCC).

One of the marketers, whose company was indicted in the reports, disclosed to Saturday Tribune that except the downstream sector was deregulated, the problem of corruption may persist because corruption has permeate the system.

The governor of Anambra State, Mr Peter Obi, had disclosed that some of the oil marketers indicted in the fuel subsidy scam had started refunding the money they stole from the Federal Government.

The governor supported the move by the Federal Government to recover the N400 billion that had been fraudulently claimed as subsidy by the oil marketers.

He did not disclose the names of the marketers who have started repaying the stolen money, but said the Federal Government needed to be supported to recover the money.

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