Oil Marketers, FG Reach Accord On Fuel Subsidy Payments

Oil Marketers, FG Reach Accord On Fuel Subsidy Payments

The thorny issue of payment of fuel subsidy may be a thing of the past as the Federal Government (FG) and oil marketers have reached a resolution on how the outstanding fuel subsidy claims would be paid.

The agreement was reached after a meeting held at the headquarters of the Ministry of Finance.

This was stated by the Media Adviser to the Minister of Finance, Paul Ella, who said the marketers assured the FG of a steady supply of petroleum products until further notice.

The statement reads:

“The discussions showed that the Government has considered the concerns and is reviewing the initial process approved by the Government for the settlement.

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“We consider that this shows the Government’s responsiveness to the need for the claims to be settled in a timely manner.

“We hereby wish to reassure the members of the public on the availability of PMS. We urge the public not to panic, as there will be no fuel scarcity.

“The engagement of the two sides will continue on Monday, December 10, 2018.”

The meeting which was held at the headquarters of the Federal Ministry of Finance in Abuja was attended by senior government officials from the ministry, Debt Management Office, Nigerian National Petroleum Corporation and the Central Bank of Nigeria.

Also in attendance on the part of the petroleum marketers are representatives from the Depot and Petroleum Products Marketers Association (DAPPMA), Major Oil Marketers Association of Nigeria (MOMAN) and Independent Petroleum Marketers Association of Nigeria (IPMAN).

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