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Fuel Scarcity Bites Harder Despite N407bn Subsidy Payment

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Fuel queues continue to mount in many parts of the country despite the recent payment of N407 billion subsidy claims to marketers.
The queues are worsening in Abuja, Kano and many states, both in the north and south of the country.
Nigerians intending to travel home for the Christmas and New Year celebrations have started to voice concerns about the lingering fuel shortages.
In states like Kaduna, Kebbi, Sokoto, Nasarawa, River, Enugu and Niger, petrol is sold above the government regulated price of N87 per litre.
The federal government had last week released N407 billion as subsidy to oil marketers. Before the payment, the marketers attributed the scarcity to non-release of the fund but there has been no respite for motorists as the long queues continue in most filling stations, indicating that Nigerians may spend the Christmas searching for petrol.
In Abuja, there were long queues of vehicles yesterday at the Conoil and Total filling stations opposite the Nigerian National Petroleum Corporation (NNPC) headquarters at the Central Area, leading to obstruction of traffic. Similar scenes were observed at all other fuel stations that dispensed the product within Abuja city centre and suburbs.

FG Approves N407bn Payment To Oil Marketers

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The Federal Government on Wednesday finally approved the payment of N407.07bn as fuel subsidy to oil marketers.

The payment was confirmed by the Minister of Finance, Mrs. Kemi Adeosun, through a statement issued by the Director, Press in the Ministry of Finance, Mr. Marshal Gundu.

The payments according to the statement include arrears from the 2014 financial year as well as payments for the current year.

The minister in the statement said the approval was given following a directive issued by President Muhammadu Buhari that the amount be paid immediately to the oil marketers in order to end the lingering fuel scarcity in the country.

It called on the oil marketers to reciprocate the action of the Federal Government by ensuring that all fuel queues disappear within the shortest time possible.

The fuel scarcity which has been on for about a month had caused severe hardship to Nigerians.

The minister in the statement said despite the dwindling revenues, the Federal Government is still committed towards ensuring that Petroluem products are made available to Nigerians.

Credit: Punch