Nigeria’s Minister of Finance, Mrs. Kemi Adeosun has confirmed the payment of N407,076,805,386.30 as subsidy claims to oil marketers in an attempt to end the lingering fuel scarcity situation. She also conveyed President Buhari’s direction that the payments be made immediately, in order to bring to a quick end the lingering fuel crisis which has caused great suffering to Nigerians and businesses.
Finance Minister added that despite dwindling revenues, the Federal Government is committed to ensuring continuous availability of fuel to Nigerians. “The payments include arrears from the 2014 financial year as well as payments for the current year. It is expected that the recipients would ensure adequate supply of fuel to end the persistent fuel shortage in the nation,” she revealed.
“This action shows that Government is fully committed to meeting its financial obligations in respect of fuel subsidy. The major oil marketers should reciprocate the action by doing all they can to bring the fuel scarcity to an end. The details of the approved payments under the subsidy scheme will be published in the National Dailies, as has been the practice. “
[Federal Ministry of Finance Report]
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