FG Pays N48bn Subsidy Claims to Fuel Marketers

070713F.Okonjo-Iweala
Ngozi Okonjo Iweala

The federal government, through the Federal Ministry of Finance, Monday announced the release of N48 billion as payments to 25 oil marketers to cover verified subsidy claims.

The ministry, in a statement signed by Special Adviser to the Coordinating Minister for the Economy and Minister of Finance, Mr. Paul Nwabuikwu, said with the release of the funds, the federal government had paid a total of N240.5 billion to fuel marketers in 2013.

The payment came against the backdrop of the threat by major marketers that they would stop the importation of petroleum products because of the continued delay in the payment of their outstanding subsidy claims.

They said out of the N50 billion due to them as subsidy claims this year, the government had paid only N9.4 billion as at last month.

According to the ministry, before the latest payment, a total of N192.50 billion in verified claims had been settled this year.

The 25 oil marketing companies to be paid the money include: Aiteo Energy Resources Limited, Ascon Oil Company Limited, Conoil Plc, Dee Jones Petroleum & Gas Limited, Dozzy Oil And Gas Limited, Forte Oil Plc, Fresh Synergy Limited, Gulf Treasures Limited, Integrated Oil and Gas Limited, IPMAN Investment Limited, Masters Energy Oil and Gas Limited, Mobil Oil Nigeria Plc, NIPCO Plc, Oando Plc, Rainoil Limited, Sahara Energy Resources Limited, Swift Oil Limited, Techno Oil Limited and Total Nigeria Plc.

Others are: Bovas & Company, Heyden Petroleum, MRS Oil Nigeria Plc, Rahamaniyya Oil And Gas Limited, Obat Oil & Petroleum Limitedand Shorelink Oil and Gas Services Limited.

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32 comments on “FG Pays N48bn Subsidy Claims to Fuel Marketers
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