Finance Minister confirms payment of fuel subsidy to oil marketers, promises end to fuel scarcity

dimeji akinloye

December 9, 2015 7:55 PM

She said the payments made to the oil marketers include "arrears from the 2014 financial year as well as payments for the current year.”

Nigeria's Finance Minister Kemi Adeosun speaks after the inauguration of the Efficiency Unit during an exclusive interview with Reuters in Abuja, Nigeria, November 30, 2015. REUTERS/Afolabi Sotunde

In a move to end the lingering fuel crisis across the country, the Federal Government said it has paid N407, 076,805,386.30 subsidy claims to oil marketers.

In a statement by the federal ministry of finance signed by the Director of Press, Mr. Marshall Gundu, it said the Minister of Finance, Kemi Adeosun has confirmed the payment.

According to the Minister, President Muhammadu Buhari had directed the immediate payment to oil marketers today, December 9, to end the suffering of Nigerians.

READ: Fuel Scarcity: Expect situation to get worse – Marketers tell Nigerians

Following the payments, the federal government said it expects the oil marketers reciprocate by ensuring "adequate supply of fuel to end the persistent fuel shortage in the nation.”

Adeosun said government will publish details of the approved payments under the subsidy scheme will in the national dailies.

dimeji akinloye