Fuel Scarcity Will End Very Soon As Federal Government Approves N407bn Payment To Oil Marketers

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Fuel Scarcity Will End Very Soon As Federal Government Approves N407bn Payment To Oil Marketers

Fuel Scarcity Will End Very Soon As Federal Government Approves N407bn Payment To Oil Marketers - NEWS

At last, Nigerians can heave a sigh of relief after it was authoritatively revealed that the federal government on Wednesday approved fuel subsidy payment to oil marketers in order to end the lingering fuel scarcity crisis.

Respite might come the way of motorists and Nigerians after the Federal Government on Wednesday approved the payment of N407.07bn as fuel subsidy to oil marketers. The long queues at filling stations will soon be over as some speculated with the recent payment approval.

This was confirmed by the Minister of Finance, Mrs. Kemi Adeosun, through a statement issued by the Director, Press in the Ministry of Finance, Mr. Marshal Gundu. The payment covers arrears from the 2014 financial year as well as payments for the current year.

The minister revealed that the directive for payment was issued by President Muhammadu Buhari in order to end the lingering fuel scarcity in the country. She therefore called on the oil marketers to immediately start distribution of the product to ensure that Nigerians do not suffer anymore.

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The statement reads in part, “The Minister of Finance, Mrs. Kemi Adeosun has confirmed payment of N407,076,805,386.30 for subsidy claims to oil marketers so as to end the lingering fuel situation.

“The Minister stated that the President has directed that payments 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.

“She also said that despite dwindling revenues, the 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.

“With this action which shows that government is fully committed to meeting its financial obligations in respect of fuel subsidy, the Minister further implored the major oil marketers to reciprocate the action by doing all they can to bring the fuel scarcity to an end.”

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