FG Pays N56.7 Billion Subsidy Claims To Oil Marketers

By Ewache Ajefu/Editor

The Coordinating Minister for the Economy  and  Finance Minister, Dr. Ngozi Okonjo- Iweala  weekend said  that the Federal Government has again  paid  N56.7 billion to oil marketers out of the subsidy claims .submitted for 2012.

Dr., Okonjo-Iweala said that the payments were made to 14 companies after thorough screening by the committee on oil subsidy claims.

The Minister said that the companies were Bovas and Company Ltd., Folawiyo Energy Ltd., Forte Oil Plc, Ibafon Oil Ltd. and Integrated Oil and Gas Ltd.

Others include M.R.S Oil Nigeria Ltd., Nipco Plc, Oando Plc, Northwest Petroleum and Gas Ltd, Rainoil Ltd., Shorelink Ltd., Swift Oil Ltd., Tecno Oil Ltd. and Total Nigeria Ltd.

She further said the ministry of finance has been making payments and checking  the activities of the marketers,

The minister said that the sum of N56.7billion was paid this week to the marketers that had been screened successfully.

“We are preparing to continue this new system where we carefully screen marketers of petroleum products.

“We will carry out the screening before and after any payment is made,” she said.