The Federal Government has disbursed an additional N56.75 billion to 14 oil marketers as part of the 2012 fuel subsidy claims, the Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, announced on Friday.
Briefing journalists in Abuja, Okonjo-Iweala said the payments were made to companies that had successfully passed the screening by the committee on oil subsidy claims.
Recipients of the Subsidy Payments
The companies that received the payments include Bovas and Company Ltd., Folawiyo Energy Ltd., Forte Oil Plc, Ibafon Oil Ltd., and Integrated Oil and Gas Ltd. Others are 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.
According to the minister, the sum of N56.755 billion was paid this week to the marketers that had been screened successfully.
Government's Screening Process
Okonjo-Iweala emphasized that the Ministry of Finance has been making payments and screening the activities of the marketers. She stated, "The ministry of finance has been making payments and screening the activities of the marketers.''
She added, "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."
Total Subsidy Claims Paid
The News Agency of Nigeria (NAN) recalls that the Federal Government had previously paid N78.9 billion to 43 oil marketers for 2012 subsidy claims as at Aug. 24. With the latest payment, the total amount paid so far stands at N135.65 billion.
