BREAKING! NNPC Approves Payment of N413bn to Oil Marketers - NaijaExtra

BREAKING! NNPC Approves Payment of N413bn to Oil Marketers

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The Federal Government on Wednesday approved the immediate payment of N413 billion to oil marketers as outstanding payment for subsidy claims.

This was contained in a statement on Wednesday by Mr Ohi Alegbe, Group General Manager, Group Public Affairs
Division of the Nigerian National Petroleum Corporation (NNPC).

The move, according to the statement, was to ensure that there were zero fuel queues across the nation. The NNPC
expressed the belief that with the payment, the marketers and other downstream players would cooperate with the NNPC to guarantee that the nation remained wet with petroleum products all year round.

In areas where there are shortages, the NNPC promised to inject additional volumes of premium motor spirit.

The NNPC also said that it is working with the Pipelines and Products Marketing Company (PPMC) and other downstream players to consolidate the prevailing stability in the supply and distribution of fuel nationwide.

“An inspection team from the PPMC have also been commissioned to go round operational areas to ensure compliance with laid down rules regarding operations,” the statement said. The team is expected to ensure conformity
with rules on loading and product evacuation across board to eliminate hoarding and other vices detrimental to the free flow of products.

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