The federal government said it had paid N156 billion debt to oil marketers in line with its commitment to prioritise payments in spite of revenue constraints.

This is contained in a statement by the Special Adviser to the Coordinating Minister and Minister of Finance, Mr. Paul Nwabuikwu in Abuja.

According to the News Agency of Nigeria (NAN), the statement noted that the payment had two components comprising `I owe you’ (IOU), given in March and interest on payment.

“The first consists of the cash backing of the N100 billion IOU which the marketers were given in March. The second is N56 billion in interest payments for the marketers according to the PPPRA template.

“This leaves a balance of N98 billion certified by PPPRA as the amount owed the markers,” it stated. It explained that the N156 billion was the latest in a series of significant payments made to the oil marketers within the last five months.

It explained that these included over N300 billion in two instalments in December last year and N31 billion in interest differentials recently.

The statement stated that in all, oil marketers had received over N500 billion within the past five months.

Read full story
http://monitor9ja.com/2015/05/fg-makes-payment-of-n156bn-debt-to-oil-marketers/

Lol

I hope it's true cos this fuel wahala is causing serious issues! Imagine a situation where customers had to lift their kegs up all because the ground is already filled with people and kegs!! That's what I saw while driving to work this evening. God bless oga Joe.