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FG’s payment to Oil Marketers in 2013 Stands at N287.35 Billion

Nigeria's Minister of Finance  Dr Okonjo Iweala

Muyiwa Bamidele

Nigeria's Minister of Finance  Dr Okonjo Iweala

Nigeria’s Minister of Finance Dr Okonjo Iweala

The Federal Government said it has reduced debts owed marketers on oil subsidy from N2.2 trillion in 2011 to N971 billion in 2012.

The information is contained in a statement issued from the office of the Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, in Abuja.

The statement, signed by the minister’s spokesman, Mr Paul Nwabuikwu, said the amount represented a reduction of over N1.2 trillion or 56 per cent of the total sum.

It said the Federal Ministry of Finance has released N46. 76 billion as latest payment to oil marketers whose claims have been verified.

The statement said that the latest payment brought the total verified claims paid to marketers so far in 2013 to N287. 35 billion.

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