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LequteMan
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The Federal Government of Nigeria through the Debt Management Office on Tuesday has issued a Sovereign Debt Note of N100bn to settle part of the subsidy arrears owed oil marketers, Punch reports.
Minister of Finance, Dr. Ngozi Okonjo-Iweala, through a statement confirmed the issuance of the SDN. She explained that an agreement had been reached with the marketers’ union that N100bn out of the outstanding N185bn subsidy debt be paid.
The minister said as part of the agreement, the government would not only pay the costs that the marketers had incurred, but also the interests and foreign exchange differentials.
Contrary to speculations, she said the queues were not caused by payment issues, adding that the government paid the marketers a total of N320.8bn from the Excess Crude Account in two instalments last December.
The Group Executive Director, Nigerian National Petroleum Corporation (NNPC),Aisha Abdulrahman, assured Nigerians that long queues in petrol stations will end before weekend.
“We are assuring you before the end of the week queues will be a thing of the past and if it still persist, I will personally be on the stations to see that you get fuel”, she said according to the News Agency of Nigeria.
#Nigeria #NNPC #FuelScarcity
Minister of Finance, Dr. Ngozi Okonjo-Iweala, through a statement confirmed the issuance of the SDN. She explained that an agreement had been reached with the marketers’ union that N100bn out of the outstanding N185bn subsidy debt be paid.
The minister said as part of the agreement, the government would not only pay the costs that the marketers had incurred, but also the interests and foreign exchange differentials.
Contrary to speculations, she said the queues were not caused by payment issues, adding that the government paid the marketers a total of N320.8bn from the Excess Crude Account in two instalments last December.
The Group Executive Director, Nigerian National Petroleum Corporation (NNPC),Aisha Abdulrahman, assured Nigerians that long queues in petrol stations will end before weekend.
“We are assuring you before the end of the week queues will be a thing of the past and if it still persist, I will personally be on the stations to see that you get fuel”, she said according to the News Agency of Nigeria.
#Nigeria #NNPC #FuelScarcity
