The Federal Government has disbursed an additional N56.75 billion to 14 oil marketers for verified 2012 subsidy claims, according to Dr. Ngozi Okonjo-Iweala, the Coordinating Minister for the Economy and Minister of Finance. She made the announcement while briefing journalists in Abuja on Friday.
Payments Follow Screening by Subsidy Committee
Okonjo-Iweala said the payments were made to companies that had successfully passed the screening process conducted by the committee on oil subsidy claims. The beneficiaries 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.
“The ministry of finance has been making payments and screening the activities of the marketers,” she stated. The Minister revealed that the sum of N56.755 billion was paid this week to the marketers that had been screened successfully.
New Screening System to Continue
According to Okonjo-Iweala, the ministry has been on a mission to carefully screen and verify oil marketers. “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,” she said.
The News Agency of Nigeria (NAN) recalls that the Federal Government had previously announced payment of N78.9 billion to 43 oil marketers for 2012 subsidy claims as at August 24. The latest disbursement brings the total paid so far to over N135 billion for the 2012 subsidy regime.
