There are indications that the prevailing calm in the oil and gas industry may be sustained at a huge cost to the Federal Government as operators within the sector have intensified pressure on President Muhammadu Buhari to pay subsidy arrears inherited from former President Goodluck Jonathan.

Apart from the Nigerian National Petroleum Corporation (NNPC) saddled with the task of importing most of the refined products for the teaming Nigerian motorists, Daily Independent gathered that current indebtedness to the oil marketers was in the threshold of over N800 billion.

Buhari had, upon the inception of his administration in 2015, abolished subsidy payments and criticised the previous government for using it as conduit pipe for draining the nation of its resources.

But as the yuletide gathers momentum, the oil marketers are mounting pressure on the Federal Government to redeem its pledge of paying them.

This much was observed when the Chairman, Senate Committee on Downstream, led by Senator Kabiru Marafa, paid a visit to President Buhari at the weekend.

According to Marafa, there was need for President Buhari to explore means of settling the arrears in order for mischievous elements not to take advantage of the situation to bring back fuel queues.

Read the full story about the drama around fuel subsidy from Independent Newspapers.