Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has disclosed that oil marketers will get the N413billion subsidy claims approved by the federal government next week once the National Assembly endorses the money.
He made the disclosure during his briefing when he assumed duty in Abuja on Wednesday.
“The money was approved by the President. The money has not reached them physically because there is a process that our constitution requires in terms of approving those set of (extra-budgetary) expenditures,” Kachikwu said.
“The president is taking time to write the national assembly to appraise them of need to do this. Do we want to pay? Yes! Have we provided for the money? Yes! Do we need approval from outside the executive to recommend that? Yes! It is going through a process.”
The Nigerian National Petroleum Corporation (NNPC) last Wednesday confirmed readiness of the government to pay the claims.
“It is our belief that with the outstanding payment due to Oil Marketers now assured, the marketers and other downstream players will join hands with the NNPC to guarantee that the nation remains wet with petroleum products all year round,” the Corporation said in a statement by the Group General Manager, Group Public Affairs Division, Mr Ohi Alegbe.
NNPC disclosed that it had injected additional volumes into the market in order to ensure zero fuel queues ahead of the festive season and beyond.
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