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FG to pay oil marketers N156b subsidy claims Thursday

Ngozi Okonjo-Iweala
Ngozi Okonjo-Iweala
The Federal Government would on Thursday pay a total of N156 billion to major petroleum marketers to defray the I Owe You (IOU) and their interest rate differentials.
The Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala,  told journalists while leaving the  Conference of Directors General of Customs of the West African Region of the World  Customs Organization, in Abuja, Wednesday.

The minister said, “As I leave here I am gong to sign for them (major marketers) to get another N156 billion in the IoU which we will issue them , I think that will be tomorrow, and N56billion in interest rate differential.”
The minister recalled that in December last year, the federal government paid N350billion to the marketers in addition to N21billion that was also paid as foreign exchange differentials.
The federal government, Okonjo-Iweala said, is still dialoguing with the petroleum marketers on the subsidy payment.
Her words:  “Let me tell you. On the issue of the oil marketers, we have been working with them. We have been dialoguing with them all along. We paid them N350billion in December. We have paid them N21billion for foreign exchange differential , and by tomorrow (Thursday) we will be paying them the N100billion for which we gave them IoUs as well as their interest rate differentials of N56billion. So I am about to go and sign to ensure they get paid.”
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