President Muhammadu Buhari has approved the payments of N407.7 billion subsidy claims to oil marketers in order to put an end to the lingering fuel scarcity across the nation.
Marshall Gundu, director of press in the ministry of finance, confirmed this in a statement issued on Wednesday.
Gundu said Kemi Adeosun, the minister of finance, has already confirmed the payment to the oil marketers.
He said Buhari directed that the payments be “made immediately in order to bring to a quick end the lingering fuel crisis which has caused great suffering to Nigerian families and businesses”.
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He also quoted Adeosun as saying: “Despite dwindling revenues, the government is committed to ensuring continuous availability of fuel to Nigerians.”
According to Gundu, the payments include arrears from the 2014 financial year as well as payments for the current year.
He quoted Adeosun as urging the major oil marketers “to do all they can” to bring the fuel scarcity to an end, and promised that the approved payments will be published.
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Last week, the senate increased the federal government’s supplementary budget from N465 billion to N574 billion to cover fuel subsidy claims.
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