N413b for oil marketers ……… NATION


Oil marketers will get N413 billion for subsidy claims, following the Federal Government’s approval, the Nigerian National Petroleum Corporation (NNPC) said yesterday.

NNPC spokesman Ohi Alegbe said the oil giant had taken steps to eliminate the fuel queues in some major cities with the injection of additional volumes of Premium Motor Spirit (PMS) to enrich product availability.

He said the NNPC will, in line with its drive to ensure zero fuel queues ahead of the Yuletide, work assiduously with its downstream subsidiary company, the Pipelines and Products Marketing Company (PPMC), and other downstream players to consolidate the prevailing stability in the supply and distribution of petrol nationwide.

The NNPC said: “Apart from increasing the volume of products distributed to stations across the country, inspection team from the PPMC have been commissioned to go round our operational areas to ensure compliance with laid down rules regarding loading and product evacuation across board to eliminate hoarding and other vices detrimental to the free flow of products.”

It noted that the initiative to ensure zero fuel queues had been bolstered with the approval by the Federal Government for the immediate payment of N413 billion to oil marketers as outstanding payment for 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 Corporation said.