President Muhammadu Buhari’s government is racing against time to ensure there is no fuel scarcity during this yuletide.

His government has now promised that oil marketers will be paid 236 billion naira out of 348 billion naira approved by the national assembly as outstanding subsidy claims on Friday, December 14.

Henry Ikem-Obih, who is the chief operating officer, Nigerian National Petroleum Corporation, NNPC downstream, made this known on Saturday.

“The Debt Management Office (DMO) will by next week, precisely on December 14th, pay oil marketers first part of the subsidy arrears of 236 billion naira as agreed by both parties,” he said.

“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.

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“Government is fully committed to paying the first tranche as promised and will be paid through promissory note that will be issued by the DMO.”

According to Ikem-Obih, the debt owed the government by oil marketers will not be deducted from the first tranche.

He said it was unfortunate that the Depot and Petroleum Product Marketers Association of Nigeria (DAPPMAN) is making a contrary statement to the agreement reached on Thursday at the ministry of finance.

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