Subsidy: FG pays N56.7 billion to 14 oil marketers this week

Channels Television  
Updated September 21, 2012

The Coordinating Minister of the Economy and Minister Of Finance, Ngozi Okonjo-Iweala on Friday said the Federal Government has this week paid a total of N56.7 billion to 14 oil marketers as fuel subsidy claims for 2012.

The Minister said this week’s payment brings the total amount paid as subsidy claims for 2012 to N393 billion.

Addressing journalists in Abuja, Mrs Okonjo-Iweala listed Bovas and Company Limited, Folawiyo Energy Limited, Forte Oil Plc, Ibafon Oil Limited, Integrated Oil and Gas Limited, MRS Oil Nigeria Plc, NIPCO Plc, OANDO Plc as some of the companies that received payment for the 2012 fuel subsidy claims.

Others are Northwest Petroleum and Gas Limited, Rainoil Limited, Shorelink Oil and Gas Services, Swift Oil Limited, Techno Oil Limited and Total Nigeria Plc.

The Minister said based on the report of the Aig-Imoukhuede “We’ve been able to make some additional payments to marketers this week of N56.7 billion.”

“We’ve made payments to 14 marketers, most of them are the major marketers who have been screened successfully now by the Aig-Imoukhuede committee,” she added.

Mrs Okonjo-Iweala said that a total of N30 billion has been released for the actualization of the Subsidy Re- Investment Programme.

She however assured Nigerians that talks on the 2013 Budget has commenced with members of the National Assembly.