“By the end of Tuesday, they were actually ready from the Debt Management Office (DMO).We had a meeting with the CBN Governor on Thursday and they were informedofficially, the Director General of DMO was there that they should pick up thepromissory note.
“Most of them were waiting for that meeting with the CBN governor, it went very well
“ Those are some of the additional concessions that government has done,’’ he said.
According to him, all the promissory notes for this first tranche will mature by 2019.
“The CBN governor will give the Liquid assets status; so, it is as good as cash,’’ he added
Commenting on petrol scarcity, he said that at the moment, the country had in stock 2.7 billion litres of Premium Motor Spirit (PMS) that would last for 54 days and still importing.
He notedthat in terms of supply, the NNPC was very robust and had never been this good in the least 10 years, at this time of the year.
“We are very good with distribution in terms of how much products is on land because2.8 billion litres is what is between Lagos waters and land.
“MostFarm tanks cannot receive PMS at the moment; our vessels have to queue for days to be able to discharge to the storage.’’ He added
The Executive Secretary of the Depot and Petroleum Products Marketers Association of Nigeria(DAPPMAN),
“Yes, we collected promissory notes, but we need clarification. DAPPMAN chief executive officers are reviewing the total scenarios and would meet with the SenateCommittee, which has been of so much help to iron out things.”
He further confirmed that the payment was made via promissory notes, adding thatDAPPMAN was already reviewing the situation.
He confirmed that the petroleum marketers would be meeting with the SenateCommittee on Downstream to address other pending issues