The Federal Government has agreed to pay outstanding subsidy-related debt to oil product importers, Yakubu Suleiman, spokesman for the Independent Petroleum Marketers Association of Nigeria (IPMAN) said on Wednesday.



“They agreed to pay the remaining balance last week. Nothing has come yet but maybe this or next week. It’s 159 billion naira” ($800 million), Suleiman said.

He said he was present at a meeting last Thursday with the permanent secretaries of finance, oil and the state agency regulating the costly subsidy scheme for gasoline and diesel.



Nigeria, one of Africa’s top producers of crude oil, subsidises gasoline and other fuels. The country must import the bulk of the 40 million litres a day that it consumes owing to a neglected refining system.



An acute fuel shortage crippled Nigeria in April and May as fuel importers shut their depots to press their case. Importers were worried that the new government, elected in March, would not honour the debt.



The presidency did not immediately respond to a request for comment.

President Muhammadu Buhari is expected to review closely the subsidy scheme, which was revealed to have paid out over $6 billion in fraudulent claims in 2012.

http://www.metronaija.com/2015/07/fg-agrees-to-pay-159bn-subsidy-debt.html




cc:lalasticlala

.Got no comment

hmmmm

They will soon come and deny it.

Baboons

I thought Okonjo Iweala said monies withdrawn from ECA was used to settle subsidy payments?

Where the hell is the $2billion withdrawn for that purpose?

So there's subsidy afterall.

MzJackBaueress:
I thought Okonjo Iweala said monies withdrawn from ECA was used to settle subsidy payments?

Where the hell is the $2billion withdrawn for that purpose?

.

Who are you asking?

And how is that your business?

You people keep making useless noise on nairaland everyday... Am tired of hearing all these useless rants.

Its OK,in as much as it will take away the queues that are gradually building up in some cities. Investigations can be done when alternatives are got. For now,the independent marketers just have to be settled. Petrol retailers are just smiling to the bank in all of this season as they're fast to increase their selling price.

I will wait until I hear from buhari's spokeperson Garba Shehu

Dorrobucci:
.

Who are you asking?

And how is that your business?


You people keep making useless noise on nairaland everyday... Am tired of hearing all these useless rants.

what a silly question! Imagine that?

MzJackBaueress:
what a silly question! Imagine that?

.

Don't get me wrong. How will this your rants on nairaland bring back the money?

Am tired of reading all dis rubbish comments on nairaland.

Dorrobucci:
.

Don't get me wrong. How will this your rants on nairaland bring back the money?

Am tired of reading all dis rubbish comments on nairaland 4rm worthless people (no offence).

really?

MzJackBaueress:
really?

.

Not what you think. Just that am fed up how everybody comes in a thread and rant and after that, the whole matter will slide. The whole process is becoming boring and not yielding anything.

Dorrobucci:
.

Not what you think. Just that am fed up how everybody comes in a thread and rant and after that, the whole matter will slide. The whole process is becoming boring and not yielding anything.

the whole matter will slide? We are no longer in Jonathan's administration when we had so many matters sliding under the carpet. If you have lost hope in government fighting corruption,I haven't!

This man called Erodedeast go soon die of HBP if he continues this way.

MzJackBaueress:
the whole matter will slide? We are no longer in Jonathan's administration when we had so many matters sliding under the carpet. If you have lost hope in government fighting corruption,I haven't!

.

Ok, I hope so. I just want to start seeing new faces in the prison.

midolian:
man, honestly u don't need this.

.
I have actually edited that part.

Dorrobucci:
.

I have actually edited that part.

well done. Ur head dey dia

Wonders of an empty treasury! The zoo is unbeatable in fraud.

[s]

midolian:
This man called Erodedeast go soon die of HBP if he continues this way.

[/s]

MzJackBaueress:
I thought Okonjo Iweala said monies withdrawn from ECA was used to settle subsidy payments?

Where the hell is the $2billion withdrawn for that purpose?

The 2billion was paid for subsidy last year and not this year.

ERODEDEAST:
[s][/s]

lol. Na so na. Ur problem too much., I no know why u no want CHANGE

ERODEDEAST:
@midolian Bros nor be so wetin una tell us come different from wetin we dey see, God go help, No wayo.

Amen.. Buh make una calm down for us small. Na jst small time remain, we go soon make naija proud.

@midolian, Na we prayer be that ooo