The Federal Government has officially approved the payment of the N407 billion owed to fuel marketers, Reuters reports.
Federal Minister of Finance, Kemi Adeosun, in a statement, cited that the payment was being made following a directive from President Muhammadu Buhari on immediate payment.
The payment notably includes arrears in payment from 2014 as well as the current fiscal year, with marketers expected to ensure an end to the lingering long queues caused by panic-buying at fuel stations nationwide.
This is hoped to bring an end to the country’s fuel crisis that has lasted for a month.
Source: Reuters (Yahoo)
