Fuel Scarcity : Federal Govt. to pay oil marketers N156 bn fuel subsidy claims

fuel scarcity

The Federal Government in Abuja , yesterday agree to pay oil marketers N156 billion , out of the outstanding N256 billion owe oil marketers.

The fuel scarcity issue got worse yesterday in different states of the country when most petrol stations were out of stock especially, in Abuja were a litre of fuel is being sold for N160. Also, The black marketers took advantage of the fuel scarcity while selling at N200 per litre.

Minister of Finance, Mrs Ngozi Okonjo Iweala in Abuja yesterday said “ We have been engaging oil marketers over the scarcity issue. We paid them N350 billion and N31 billion in the       foreign exchange differential in December.

“Tomorrow, we will be paying them N100 billion for which we had earlier given them IOUs, and interest rate differentials.

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