NNPC N1.2 trillion Subsidy Claim: Diezani calls on Jonathan to caution Okonjo-Iweala President Goodluck Jonathan has been alerted by the Nigerian National Petroleum Corporation(NNPC) to a looming acute fuel shortage, shouldthe FG fail to pay the N1.13trn subsidy owed toNNPC.The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke led a delegation who reportedly made this known to Jonathan at a recent meeting. The delegation included some top management staff and the group Managing Director, Mr. Andrew Yakubu.It was learnt that the team told the President that the Minister of Finance, Mrs. Ngozi Okonjo-Iweala,had failed to pay the debt, which has hinged its capacity to continue the importation of fuel on the payment of the debt that had accumulated over the months. The team advised that the president get the Minister of Finance, Mrs. NgoziOkonjo-Iweala to pay the debt to avoid serious fuel shortage in the country.The team further informed the president that they fear that very soon fuel might disappearfrom filling stations across the country if itcontinues this way.They also informed the President that they fearthat the N971bn subsidy provision in the 2013budget is seen as hideously insufficient.According to a source at the NNPC who spoke inconfidence, when asked said, “Yes, we have madea presentation to the President. We are waitingfor his response because it (payment of thesubsidy claim) is very imperative for our capacityto import fuel,”The team resorted to requesting a meeting withthe President when they could not get theOkonjo-Iweala pay the subsidy claim.The NNPC has remained the sole importer of fuelinto the country since the problem with importersbegan, the oil marketers refused to import fuelsince the government refused to pay for some oftheir claims.The Jetty and Petroleum Tank Farm owners aswell as the oil marketers operating under themhave also faulted the N971bn budgeted for thesubsidy in the 2013 fiscal year, saying that theamount would not be enough to supply theproduct over the stipulated period.In a phone interview, the Executive Secretary,JEPTFON, Mr. Enoch Kenawa, had this to say, “It(N971bn) will not be adequate. What thegovernment is doing is putting Nigerians indouble jeopardy. They said they are subsidisingfuel, yet people can’t see the products to buy andwhere they have fuel, people still pay very high toget it.“The N971bn for fuel subsidy can never beadequate. At 35 million litres of fuel consumptionper day, the money can’t be enough.”He said the N971bn, was too small that thegovernment should have been talking N1.2trnand N1.5trn, with the population and demandratio.“If they want to remove, let them remove it(subsidy) instead of what they are doing rightnow. Based on the demand, the amount thatwould be reasonable for fuel subsidy should bebetween N1.2trn and N1.5trn,” Kenawa added.He said the fuel scarcity experiencing in thecountry now is because of the N888bn voted forsubsidy this year, which was grossly inadequate.