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FG To Pay Oil Marketers N236bn Subsidy Claims On December 14

December 8, 2018

“The Debt Management Office (DMO) will by next week, precisely on December 14, pay oil marketers the first part of the subsidy arrears of N236billion as agreed by both parties," Henry Ikem-Obih, Chief Operating Officer (Downstream) of NNPC, said.

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The Federal Government has promised to pay oil marketers N236billion on subsidy claims on Friday, December 14, 2018.

This was disclosed by Henry Ikem-Obih, Chief Operating Officer (Downstream) of the Nigerian National Petroleum Corporation (NNPC), when he addressed journalists in Abuja on Saturday.

The N236billion is the first tranche of the N348billion owed to oil marketers on subsidy.

“The Debt Management Office (DMO) will by next week, precisely on December 14, pay oil marketers the first part of the subsidy arrears of N236billion as agreed by both parties. We agreed that after the first tranche is paid, the marketers will form a committee to work on details of how the next tranche will be paid in 2019 and the last paid in 2020. Government is fully committed to pay the first tranche as promised and will be paid through promissory note that will issued by the DMO." he said.

Ikem-Obih expressed government's commitment to paying the arrears, just as he urged Nigerians not to engage in panic-buying of petroleum products, stating that stakeholders will work towards preventing scarcity during the festive season.

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NNPC Oil