Govt resumes fuel subsidy payment,culled from the guardian

THE Federal Government has resumed the payment of verified subsidy claims to ensure the continuous supply of petroleum products to avert the scarcity of fuel.

Finance Minister, Dr. Ngozi Okonjo-Iweala, said following the report of the Presidential Committee headed by Mr. Aigboje Aig-Imoukhuede, it was clear that some marketers also owe government significant sums of money and that it expects that these would be paid.

Consequent on this, she said there was no reason for marketers or other stakeholders to go on strike because the government was addressing subsidy payment issues in a structured way that protects both the interest of the country and those of genuine marketers.

Okonjo-Iweala has also directed the Debt Management Office (DMO) to pay marketers with verified claims as soon as supporting Sovereign Debt Notes are provided by the Petroleum Products Pricing and Regulatory Agency (PPPRA).

The directive is to reinforce the government’s determination to ensure that there was no disruption in fuel supply across the country, according to a statement by the Senior Special Assistant to the Minister on Media, Mr. Paul Nwabiukwu.

Payments based on verified claims resumed after the June meeting of the Federation Accounts Allocations Committee (FAAC) when payments totalling N17 billion were made. Meanwhile, the International Monetary Fund (IMF) has scored Nigeria’s economic and reform programmes high and asserted that the country was on the path of recovery.