FG approves payment of N413bn subsidy claim to oil marketers
The Federal Government on Wednesday
approved the immediate payment of
N413 billion to oil marketers as
outstanding payment for subsidy claims.
This is contained in a statement on
Wednesday in Abuja by Mr Ohi Alegbe,
Group General Manager, Group Public
Affairs Division, Nigerian National
Petroleum Corporation (NNPC).
It stated that the initiative was to ensure
that zero fuel queues bolstered.
It expressed the belief that with the
payment, the marketers and other
downstream players would cooperate
with the NNPC to guarantee that the
nation remained wet with petroleum
products all year round.
It also stated that NNPC had stepped up
measures to eliminate the noticeable fuel
queues in some petrol stations across
some major cities in the country.
NNPC also assured public of adequate
fuel supply as it injected additional
volumes of premium motor spirit to
enrich product availability in the
affected areas.
It stated that the corporation was
working assiduously with stakeholders in
line with its drive to ensure zero fuel
queues ahead of the forthcoming
yuletide and beyond.
It stated that NNPC was working with the
Pipelines and Products Marketing
Company (PPMC) and other downstream
players to consolidate the prevailing
stability in the supply and distribution of
fuel nationwide.
It stated that inspection team from the
PPMC had also been commissioned to go
round operational areas to ensure
compliance with laid down rules
regarding operations.
It stated that the team would ensure
conformity with rules on loading and
product evacuation across board to
eliminate hoarding and other vices
detrimental to the free flow of products.
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