The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that the federal government had approved the immediate payment of N413 billion to oil marketers as outstanding fuel subsidy claims owed them. This is the first subsidy payment to be made by the Buhari administration with fuel scarcity already hitting many states.
This was contained in a statement issued in Abuja yesterday by the Corporation’s spokesman, Ohi Alegbe. The Corporation noted that the initiative to ensure zero fuel queues has been bolstered with government’s approval for the immediate payment of N413 billion to oil marketers as outstanding payment for subsidy claims.
The NNPC added that it had stepped up measures to eliminate the noticeable fuel queues in some petrol stations across some major cities in the country with the injection of additional volumes of fuel to increase product availability in the affected areas.
The statement noted that in line with its drive to ensure zero fuel queues ahead of the forthcoming yuletide and beyond, the Corporation was working assiduously with its downstream subsidiary company, the Pipeline Products Marketing Company (PPMC), and other downstream players to consolidate the prevailing stability in the supply and distribution of petrol nationwide.
The Corporation further expressed the confidence 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.
