The Federal Government has approved the payment of N413 billion to petroleum products marketers being the outstanding payment for subsidy claims.
This was disclosed in Abuja yesterday by the Nigerian National Petroleum Corporation (NNPC) through its spokesperson, Mr. Ohi Alegbe.
He stated NNPC 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.
Alegbe who is also the Group General Manager, Group Public Affairs Division of the corporation, 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.
”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,” he also stated.
Meanwhile, the Petroleum Products Pricing Regulatory Agency, PPPRA, which is responsible for approving such claims stated that it was yet to be notified of the payment.
This is just as the marketers insist they are owed about N470billion.
The agitation for the payment of the subsidy claim started at the tail end of former President Goodluck Jonathan's tenure owing to the unforeseen contingencies perceived by the oil marketers.