Govt approves payment of N413 billion to oil marketers for subsidy

Nigerian government has approved the payment of 413 billion naira to oil marketers as outstanding payment for subsidy claims, the state oil company has announced.

While the marketers insist they are owed about N470billion, the Petroleum Products Pricing Regulatory Agency, PPPRA, which is responsible for approving such claims revealed that it was yet to be notified of the payment.

The Nigerian National Petroleum Corporation, NNPC, in a statement in Abuja, also said it has injected additional volumes of Premium Motor Spirit, PMS‎, or petrol across the country to boost supply of the product and eliminate the long queues that have resurfaced in many parts of the country.

The statement, signed by the Group General Manager, Group Public Affairs Division‎, NNPC, Mr. Ohi Alegbe, noted that the payment of the outstanding N413 billion subsidy claims to oil marketers is part of the Government’s initiative of zero tolerance to fuel queues nationwide.

‎Alegbe said: ‎”It is our belief that with the outstanding payment due to oil marketers now assured, the marketers and other downstream players will join hands with the NNPC to guarantee that the nation remains wet with petroleum products all year round.”