Federal Government approves payment of N413Bn to oil marketers

Federal government has approved the payment of 413 billion Naira to oil marketers, being the outstanding payment for subsidy claims.

The approval is coming on the heels of a brewing fuel supply crisis over non-payment of the subsidy claims, leading to queues in petrol filling stations in some major cities.

A statement by the Nigerian National Petroleum Corporation –NNPC through the Group General Manager, Public Affairs Division, Ohi Alegbe, said the payment would be immediate adding that the corporation had also stepped up measures to eliminate the noticeable fuel queues with the supply of additional volumes of petrol.

NNPC explained that in line with its drive to ensure zero fuel queues ahead of the yuletide and beyond, it was working assiduously with its downstream subsidiary company, the Pipelines and Products Marketing Company and other downstream players to consolidate the prevailing stability in the supply and distribution of fuel nationwide.

The Department of Petroleum Resources -DPR in another statement disclosed that about 365 million litres of Premium Motor Spirit were available in depots nationwide, while additional 800 million litres would be discharged before the end of the week.



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