To halt the current fuel scarcity ravaging the country, the Federal Government yesterday assured it would pay Major Oil Marketers Association of Nigeria (MOMAN) about N156 billion today.
The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo- Iweala,stated this at the World Customs Day event held in Abuja yesterday. The Minister said the payment of N156 billion represents the remaining tranche of the N256.2 billion debt owed MOMAN in subsidy claims.
Given further breakdown of the the N156 billion, she said government has committed to pay N100 billion as IOUs as well as the interest rate differential of N56 billion.
The latest move by government would bring an end to the lingering fuel scarcity, the attendant long queues at the filling stations and unnecessary sufferings of Nigerians since March this year.
The payment today was in swift reaction to President Goodluck Jonathan’s order to the Finance Minister to end the logjam occasioned by the scarcity.
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