Osinbajo Orders Payment Of $2bn Outstanding Subsidy Claims
Oil marketers in Nigeria are about to smile to their various banks in anticipation of the alerts.
Acting President Yemi Osinbajo has directed the Minister of Finance, Kemi Adeosun, to pay all outstanding subsidy claims, estimated at about $2 billion.
This is coming as the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has stated that structured difficulties, such as denial of approval for processes, delays by relevant government agencies, and opposition by the public could make the 2019 target to end importation of petrol unrealistic.
The capacity of the Major Oil Marketers Association of Nigeria (MOMAN) and the Depot and Petroleum Products Marketers Association (DAPPMA) to import petroleum products had been impaired due to the huge unpaid subsidy claims.
As a result, the acting president, it was learnt, recently summoned a meeting with oil marketers, in which Adeosun, Kachikwu and the Central Bank Governor, Godwin Emefiele, were in attendance.
At the end of the meeting, Osinbajo was said to have directed the finance minister to, within two weeks, resolve the problem of the outstanding subsidy claims.