N407 Billion Subsidy Money Has Been Paid To Marketers – FG

N407 Billion Subsidy Money Has Been Paid To Marketers – FG

By Vanguard on December 10, 2015
NNPC A petrol station during fuel scarcity in Abuja tanker
A petrol station during fuel scarcity in Abuja | Leadership

Respite seems to be in sight for Nigerians over the unending fuel scarcity witnessed across the country, as the Federal Government, yesterday, said it has paid N407.077 billion to oil marketers for their outstanding subsidy claims.

Minister of Finance, Mrs. Kemi Adeosun, who disclosed this in a statement in Abuja stated that the Presidency had directed that the payments be made immediately in order to bring to a quick end, the lingering fuel crisis which has caused great suffering to Nigerian families and businesses.

She said the payments include arrears from the 2014 financial year as well as payments for the current year, while she appealed to major oil marketers to reciprocate the action by doing all they can to bring the fuel scarcity to an end.

She also stated that despite dwindling revenues, the government is committed to ensuring continuous availability of fuel to Nigerians.

She said: “It is expected that the recipients would ensure adequate supply of fuel to end the persistent fuel shortage in the nation, especially as this  action shows that government is fully committed to meeting its financial obligations in respect of fuel subsidy.

“Details of the approved payments under the subsidy scheme will be published in the national dailies as has been the practice.”

Read More


Leave a Comment

To leave a comment anonymously, simple write your thoughts in the comments box below and click the ‘post comment’ button.

This site uses Akismet to reduce spam. Learn how your comment data is processed.