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FG pays N78.9bn petrol subsidy claims

04 September 2012, 12:21

Abuja - The Federal Government said it had paid 43 petrol subsidy claims valued N78.9 billion as at Aug. 22 to 24 genuine oil marketers after thorough verification.

This is contained in a statement issued by Mr Paul Nwabuikwu, the Senior Special Assistant on Media to the Minister of Finance, in Abuja on Monday.

The statement explained that this was in line with the commitment of the ministry to continue the payment to marketers whose papers had been processed and cleared.

``The Federal Ministry of Finance makes payments based on submitted batches by the Petroleum Products Pricing Regulatory Agency (PPPRA),’’ it said.

It named the paid companies as Ascon Oil, Bodej Investment, Bovas & Company, Channel Oil and Petroleum.

Others included Dee Jones Petroleum and Gas, Dozzy Oil and Gas, First Deep Water Discovery, Folawiyo Energy, Heyden Petroleum, Honeywell Oil and Gas, among others.

On the 2011 subsidy arrears, it said the Federal Government had settled the claims of 79 companies with the sum of N259.3 billion.

It named the beneficiaries as Acorn Plc, Aiteo Energy Resources, AMG Petro-Energy, Anosyke Group of Companies, Ascon Oil Company, Ax Energy, A-Z Petroleum, Baywood Continental and Britania .U. Nigeria.

Others included, Caades Oil & Gas, CAH Resources Associated, Capital Oil and Gas Industry, Carnival Energy Oil and Gas, Ceoti, Channel Oil and Gas SVS, Conoil Plc, Crust Energy, Dee Jones Petroleum and Gas.



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