According to reports by Leadership, the FG has set aside the sum of N108 billion to completely offset subsidy payments for the year 2015 to oil marketers.
While announcing the new pump price of petrol in Abuja recently, Farouk Ahmed, Executive secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA), disclosed that the money is meant to clear payment for October, November and December 2015.
The total sum of N407 billion was paid by the FG as subsidy claims to oil marketers up to September 2015, Kemi Adeosun said that payments also included outstanding arrears from the 2014 financial year as well as payments for 2015.
It would be recalled that the government recently paid an outstanding N407 billion subsidy claims to oil marketers which covered payments up to September, 2015. Minister of Finance, Kemi Adeosun, said the payments included arrears from the 2014 financial year as well as payments for 2015.
Meanwhile Ahmed said the PPPRA has completed verification of marketer’s documents for the months of October and November, which would be sent to the Debt Management Office (DMO) before finally being handled by the ministry of finance.
The managing director of the Pipelines and Products Marketing Company (PPMC) Esther Nnamdi-Ogbue, has also disclosed that the agency will effect from this month, begin real time tracking of products distribution with a view to check diversion and artificially induced scarcity.
While announcing the new pump price of petrol in Abuja recently, Farouk Ahmed, Executive secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA), disclosed that the money is meant to clear payment for October, November and December 2015.
The total sum of N407 billion was paid by the FG as subsidy claims to oil marketers up to September 2015, Kemi Adeosun said that payments also included outstanding arrears from the 2014 financial year as well as payments for 2015.
It would be recalled that the government recently paid an outstanding N407 billion subsidy claims to oil marketers which covered payments up to September, 2015. Minister of Finance, Kemi Adeosun, said the payments included arrears from the 2014 financial year as well as payments for 2015.
Meanwhile Ahmed said the PPPRA has completed verification of marketer’s documents for the months of October and November, which would be sent to the Debt Management Office (DMO) before finally being handled by the ministry of finance.
The managing director of the Pipelines and Products Marketing Company (PPMC) Esther Nnamdi-Ogbue, has also disclosed that the agency will effect from this month, begin real time tracking of products distribution with a view to check diversion and artificially induced scarcity.
No comments:
Post a Comment