Wednesday 4 November 2015

Federal Govt approves immediate payment of N413billion subsidy claims

Oil Barrel
The federal government has approved the payment of N413 billion to oil marketers being the outstanding payments 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) announcing the approval on Wednesday said the payment would be ‘immediate’.

NNPC noted in the statement from its Group General Manager, Public Affairs Division, Ohi Alegbe, that the corporation had also stepped up measures to eliminate the noticeable fuel queues in some petrol stations across some major cities in the country with the supply of additional volumes of petrol.

It said that the approval would bolster its initiative to ensure zero fuel queues.
"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," it further stated.
NNPC explained that in line with its drive to ensure zero fuel queues ahead of the forthcoming yuletide and beyond, it was working assiduously with its downstream subsidiary company, the Pipelines and Products Marketing Company (PPMC), and other downstream players to consolidate the prevailing stability in the supply and distribution of fuel nationwide.
"Apart from increasing the volume of products distributed to stations across the country, inspection team from the PPMC have been commissioned to go round our operational areas to ensure compliance with laid down rules regarding loading and product evacuation across board to eliminate hoarding and other vices detrimental to the free flow of products," NNPC said in the statement.

Credit: ThisDay

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