FG Approves Subsidy Payment Of $2.1 Billion

Share This Information on:

The federal government has approved the payment of
413 billion naira ($2.1 billion) to oil marketers as
outstanding payment for fuel subsidy claims.

According to Breaking Times, the Nigerian National
Petroleum Corporation (NNPC) made the disclosure
on Thursday, November 5.

The Nigerian government has not made a payment to
oil marketers since July this year.
The management of the NNPC said it hoped the
payment would help to ensure the country “remains wet
with petroleum products all year round” .

President Buhari had earlier stated that he would not
be tempted to remove the petroleum subsidy until full
measures are in place to cushion the effect of such
removal.

Emmanuel Ibe Kachikwu, the group managing
director of the NNPC, disclosed the president’s
position in his address to the Senate on Wednesday,
October 14.

It Will Only Take You Seconds To Share This Information on: