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Subsidy Claims: FG Releases N413bn To Oil Marketers

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The Federal Government has approved the payment of N413 billion debt it owes oil marketers as fuel import subsidy claims.

A statement issued in Abuja on Wednesday by Mr Ohi Alegbe, the Group General Manager, Group Public Affairs Division, Nigerian National Petroleum Corporation (NNPC) explained that the action was aimed at ensuring an end to fuel queues at petrol stations in the country, henceforth.

According to the statement, it is expected that the payment of the outstanding subsidy claims will enable the marketers and other downstream players to cooperate with the NNPC for the purpose of guaranteeing an unbroken supply chain of petroleum products nationwide.

The NNPC explained that it was working assiduously with stakeholders in accordance with its desire to ensure zero fuel queues all year round, especially ahead of the forthcoming yuletide epoch.

“NNPC has stepped up measures to eliminate the noticeable fuel queues in some petrol stations across some major cities in the country and also assures the public of adequate fuel supply as it injected additional volumes of premium motor spirit to enrich product availability in the affected areas.

“NNPC is 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.

“The inspection team from the PPMC has also been commissioned to go round operational areas to ensure compliance with laid down rules regarding operations,” it said.

The statement added that the team would ensure compliance with the loading and product evacuation rules across board in order to end hoarding and other sharp practices that hinder product supply across the country.

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