Coordinating Minister and Minister of Finance the Finance, Dr Ngozi
Okonjo-Iweala, yesterday said the Federal Government has released the
N161.6 billion supplementary budget for subsidy payments, which was
approved by the National Assembly to the Central Bank of Nigeria (CBN)
since December 31, last year.
In a statement,Special Adviser to the Coordinating Minister for the
Economy and Minister of Finance, Mr Paul Nwabuikwu, said that the
payments are presently going through the CBN’s processes which include
the conversion of the dollar equivalent from the Excess Crude Account
and will be concluded soon.
The Minister confirmed that payments totalling N94 billion have been
verified for 23 marketers who will be paid in the next few days. “We are
committed to paying all companies who deserve to get subsidy payments
just as we will not pay undeserving firms.
That is the mandate we have from the President,” Dr Okonjo-Iweala
declared. Okonjo-Iweala, however, refuted media reports which alleged
that the Federal Ministry of Finance is blocking verified payments to
marketers.
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