Subsidy: Oil marketers get 407b

Nigerians may soon heave a sigh of relief as indications are that the Federal Government has paid N407,076,805,386.30 subsidy claims to oil marketers to end the lingering fuel crisis.

In a statement from the Federal Ministry of Finance, signed by Mr Marshall Gundu, Director of Press of the ministry, said the Minister of Finance, Mrs. Kemi Adeosun confirmed the payment to the oil marketers.

President Muhammadu Buhari was said to have directed that the payments should be “made immediately in order to bring to a quick end the lingering fuel crisis which has caused great suffering to Nigerian families and businesses.”

The minister of finance also said that “despite dwindling revenues, the government is committed to ensuring continuous availability of fuel to Nigerians.”

The payments to oil marketers, according to Mrs Adeosun, “include arrears from the 2014 financial year as well as payments for the current year.”

With this payment, the Federal Government, she said, expects the recipients to “ensure adequate supply of fuel to end the persistent fuel shortage in the nation.”

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