The Nigerian National Petroleum
Corporation (NNPC) says the Federal Government has approved the payment
of 413 billion Naira to oil marketers as outstanding payment for subsidy
claims.
According to the NNPC, the payment would ensure that there would be no scarcity of the product.
“It is our belief that with the outstanding payment due to Oil
Marketers now assured, the marketers and other downstream players will
join hands with the NNPC to guarantee that the nation remains wet with
petroleum products all year round,” the Corporation said in a statement
by the Group General Manager, Group Public Affairs Division, Mr Ohi
Alegbe.
The corporation also stressed that it had injected additional volumes into the market, in order to ensure zero fuel queues ahead of the festive season and beyond.
This, the Corporation intends to achieve in collaboration with its
downstream subsidiary, the pipelines and products marketing company and
other players in the supply and distribution of fuel nationwide.
Apart from increasing the volume of products distributed to stations
across the country, inspection team from the Pipelines and Products
Marketing Company have been commissioned to go round to ensure
compliance with laid down rules regarding loading and product evacuation
across board to eliminate hoarding and other vices detrimental to the
free flow of products,” the NNPC said.
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