WARRI-THE Managing Director of Matrix Energy Limited, Alhaji Abdulkabir Aliu has stated that petroleum product scarcity would continue unless the Federal government allows market forces to determine product prices.
He also appealed to the Federal Government to remove subsidy as it has no business getting involved in subsidy payment, just as he called on the government to properly investigate the subsidy scam and bring any dealer found culpable to book with immediate effect.
Addressing the House of Representatives Committee on Petroleum Downstream sector led by its Chairman, Hon. Dakuku Peterside at the company premises at Ifiekporo, Warri, Delta State recently, Abdulkabir Aliu disclosed that the Federal Government is owing the company a whopping N5bilion, a condition that has rendered it incapable of further importing fuel to ease the situation in the country.
He told the House Committee that Matrix on a good day loads up to 100 trucks per day before May 2012, when they stopped importation due to the 5b naira debt owed the company by the government, saying that currently, only NNPC imports about 95% of petroleum products in the country.
Chairman of the Committee, Hon. Dakuku Peterside on his part told the management of Matrix that they were on their oversight duties to Ministries, Parastatals and the private sector to ensure compliance with government regulation and budgetary provisions and expressed satisfaction with Matrix for meeting standards and possessing adequate facilities to handle/dispense petroleum products to serve Nigerians better.