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Subsidy claims: FG pays additional N56.7bn to marketers

21 September 2012, 17:10

Abuja  - Ngozi Okonjo-Iweala, the Coordinating Minister for the Economy, on Friday said that the Federal Government had paid additional N56.75 billion to oil marketers out of the 2012 subsidy claims.

While briefing newsmen in Abuja, Okonjo-Iweala, also Nigeria’s Minister of Finance, said that the payments were made to 14 companies after being screed by the committee on oil subsidy claims.

She 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.

``The ministry of finance has been making payments and screening the activities of the marketers,’’ she said.

The minister said that the sum of N56.755 billion was paid this week to the marketers that had been screened successfully.

According to her, the ministry has been on a mission to carefully screen and verify the oil marketers.

``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.

The Federal Government said it had paid N78.9 billion to 43 oil marketers for 2012 subsidy claims as at Aug. 24



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