Cloudy Weather Report Ramallah, Palestine +4°C, Cloudy
Home | News |

FG To Pay Oil Marketers N236bn Subsidy Claims On December 14




The Federal Government has promised to pay oil marketers N236billion on subsidy claims on Friday, December 14, 2018.

This was disclosed by Henry Ikem-Obih, Chief Operating Officer (Downstream) of the Nigerian National Petroleum Corporation (NNPC), when he addressed journalists in Abuja on Saturday.

The N236billion is the first tranche of the N348billion owed to oil marketers on subsidy.

“The Debt Management Office (DMO) will by next week, precisely on December 14, pay oil marketers the first part of the subsidy arrears of N236billion as agreed by both parties. We agreed that after the first tranche is paid, the marketers will form a committee to work on details of how the next tranche will be paid in 2019 and the last paid in 2020. Government is fully committed to pay the first tranche as promised and will be paid through promissory note that will issued by the DMO." he said.

Ikem-Obih expressed government's commitment to paying the arrears, just as he urged Nigerians not to engage in panic-buying of petroleum products, stating that stakeholders will work towards preventing scarcity during the festive season.

Tags

No tags for this article
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of nigerianewsgrio.com. nigerianewsgrio.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Loading...




Related Articles

Politics: 5 missing US Marines declared dead after plane crash off the coast of Japan

The US Marine Corps called off its search for five missing Marines on Monday, after a F/A-18 Hornet fighter and C-130 Hercules cargo plane collided

Olamide - 'Poverty Die' (Official Video)

Olamide has shared the official visuals to his latest single 'Poverty Die.'Coming days after releasing the audio which immediately became a favourite and with the

Messi, Griezmann among stars present at Copa Libertadores Final

Barcelona star Lionel Messi and Atletico Madrid forward Antoine Griezmann were among the notable footballers that were present at the Copa Libertadores Final played on

Most Watched Videos

View all posts



Most Read News

View all posts

I trust my husband but I wouldn’t have him bathe our daughter - TV presenter Morayo says

- TV presenter Morayo Aka Bashorun has shared her fears about abuse directed towards children- In a recent TV programme, Morayo revealed that she wouldn't

Olympic silver medallist Missillier ruptures Achilles

French Olympic silver medallist Steve Missillier ruptured his Achilles tendon during the first run of the giant slalom at Val D’Isere, the French Ski Federation

FG To Pay Oil Marketers N236bn Subsidy Claims On December 14

The Federal Government has promised to pay oil marketers N236billion on subsidy claims on Friday, December 14, 2018. This was disclosed by Henry Ikem-Obih, Chief Operating

Police take over Ekiti school over murder of student

By Rotimi Ojomoyela Ado-Ekiti- Men of the Ekiti state police command have taken over the secondary school in Ekiti state where a 16- year old student,

Top facts about Funke Akindele's children

For years, Nigerians have been curious about the answer to the question “Does Funke Akindele have a child?” There have been multiple rumours on the

Mass defection hits A-Ibom APC, as over 20,000 join PDP

By Chioma Onuegbu MASS defection has hit the All Progressives Congress, APC, in Akwa Ibom State  as over 20,000 of its members defected to the People’s

Most Watched Movies

cron