Business

Fuel Subsidy: FG Owes Marketers N110bn

President of Independent Petroleum Marketers Association of Nigeria, Alhaji Aminu Abdulkadir, has said that the government owed the members N110bn subsidy claims.

Abdulkadir also said N41bn was recently paid to IPMAN members, but said that it was from an outstanding debt of N151bn to the marketers.

The Federal Ministry of Finance on Friday said it had started processing documents for the payment of outstanding subsidy claims to oil marketers.

The Media Adviser to the Minister of Finance, Mr Paul Nwabuikwu, made this known to the News Agency of Nigeria in Abuja.

Nwabuikwu said the ministry often waited for Petroleum Products Pricing Regulatory Agency to screen and submit documents of the subsidy claims of the marketers.

Abdulkadir, however, said, “Efforts from the Ministry of Finance made it possible for about N41bn to be released and I believe that the ministry is doing everything possible to pay up the balance.”

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