BEVERLY HILLS, November 04, (THEWILL) – The Federal Government has approved the payment of N413 billion to oil marketers so that they can import Premium Motor Spirit (PMS – petrol) into the country. This a substantial reduction in the N470 billion debt the marketers are claiming the government owed them.
According to the NNPC, the initiative to ensure zero fuel queues in the country has been bolstered with the approval by the Federal Government for the immediate payment of subsidy 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 NNPC said.
