The Federal Government has agreed to pay outstanding subsidy-related debt to oil product importers, Reuters reports. “They agreed to pay the remaining balance last week. Nothing has come yet but maybe this or next week. It’s 159 billion naira” ($800 million), Yakubu Suleiman, spokesman for the Independent Petroleum Marketers Association of Nigeria, said. He said […]
The Federal Government has agreed to pay outstanding subsidy-related debt to oil product importers, Reuters reports.
“They agreed to pay the remaining balance last week. Nothing has come yet but maybe this or next week. It’s 159 billion naira” ($800 million), Yakubu Suleiman, spokesman for the Independent Petroleum Marketers Association of Nigeria, said.
He said he was present at a meeting last Thursday with the permanent secretaries of finance, oil and the state agency regulating the costly subsidy scheme for gasoline and diesel.
The presidency did not immediately respond to a request for comment.
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