Ubah demands subsidy arrears from FG

AUGUST 2, 2013  

Managing Director, Capital Oil and Gas Limited, Patrick Ifeanyi Uba

Chairman of Capital Oil and Gas Nigeria Limited, Mr. Ifeanyi Ubah, has asked the Federal Government to pay up his company’s outstanding petroleum subsidy claim, which according to him, is running into billions of naira.

Ubah’s demand was contained in a statement made available to journalists in Awka on Thursday. He said the refusal of the Federal Government to settle the subsidy debt was crippling his company’s operations.

Ubah’s demand came barely one week after an Abuja High Court ordered the Minister of Finance, Dr. Ngozi Okonjo-Iweala, to pay up the subsidy claim.

Ubah is a governorship aspirant for the Labour Party in Anambra State. Capital Oil’s claims were dropped after the government commenced investigation into the operations of the company.

The statement, dated August 1, 2013, said, “I hereby request the Honourable Minister of Finance to go ahead and process the outstanding subsidy payment due to the company, as advised by the Police.

“The continued refusal to pay us has adversely affected our business and our workers need to be paid. It is hoped that the parties will toe the path of justice by honouring their obligations in this time of healing and avoid unnecessary expenses and media war.”

Justice Abdul-Kafarati of the Federal High Court had on July 25 declared that the February 18 judgment of Justice Aneke of the Federal High Court, which quashed the Aig-Imoukhuede report against Ubah, the House of Representatives’ committee report and the police letter of February 12, amounted to a final exoneration of any criminal offence with regard to application for receipt of subsidy payment under the Federal Government of Nigeria Petroleum Support Fund scheme, against him and his company, the Capital Oil & Gas Industries Limited.

Ubah said, “It is expected that those who delude themselves that smearing my name, by bandying the spurious allegation, will stop me from pursuing my ambition, will have a rethink.”