Nigeria Approves $2.1b Payment to Oil Marketers

Nigeria Approves $2.1b Payment to Oil Marketers

Nigeria’s government has approved the payment of .

1b to oil marketers as outstanding payment for fuel subsidy claims, the state-run Nigerian National Petroleum Corporation (NNPC) said on Wednesday, Reuters reported.

The government had not announced a payment to oil marketers in Africa’s biggest crude producer since July.

“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, the Daily Post reported.

NNPC said that it had injected additional volumes into the market in order to ensure zero fuel queues ahead of the festive season and beyond.

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