Nigeria Delivers Ultimatum

The Nigerian Revenue Mobilization and Fiscal Allocation Commission has issued a two-week ultimatum to major oil companies to remit money realized from the tax imposed on fuel between 1 and 20 January this year.

The government met with oil majors Total Nigeria plc, Mobil Oil, Conoil, African Petroleum plc, Oando plc and Texaco Nigeria plc on Monday to reconcile figures on the volumes of fuel imported as well as lifted from depots in the country in the first three weeks of this year. The meeting was also to verify how much was due and actually paid by the companies on the fuel tax.

A government spokesman said yesterday that the verification done on the volume of fuel imports revealed that none of the marketers had remitted the tax.

Government representatives at the meeting asked the companies to resolve the matter by 15 April 2004.