The Nigerian National Petroleum Corporation (NNPC) says the Federal Government has approved the payment of 413 billion Naira to oil marketers as outstanding payment for subsidy claims.
According to the NNPC, the payment would ensure that there would be no scarcity of the product.
“It is our belief that with the outstanding payment due to Oil Marketers now assured, the marketers and other downstream players will join hands with the NNPC to guarantee that the nation remains wet with petroleum products all year round,” the Corporation said in a statement by the Group General Manager, Group Public Affairs Division, Mr Ohi Alegbe.
The corporation also stressed that it had injected additional volumes into the market, in order to ensure zero fuel queues ahead of the festive season and beyond.
This, the Corporation intends to achieve in collaboration with its downstream subsidiary, the pipelines and products marketing company and other players in the supply and distribution of fuel nationwide.