The Federal Government on Monday released fresh N46.76bn to 30 oil marketers as payment for fuel subsidy.
The amount brings the total payment made under the fuel subsidy regime in the 2013 fiscal period to N287.35bn.
The Minister of Finance, Dr. Ngozi Okonjo-Iweala, confirmed the payment in a statement by her Special
Adviser on Communications, Mr. Paul Nwabuikwu.
According to the statement, 11 oil marketers were paid N17.29bn subsidy for fuel imported into the country in April while 19 others were paid N29.46bn for fuel imports in May.
It said, “In furtherance of President Goodluck Jonathan administration’s commitment to transparency and accountability in the management of fuel subsidy payments, the Federal Ministry of Finance has released the sum of N46.764bn as latest payment to oil marketers, whose claims have successfully gone through the verification process.
“This means that, so far in 2013, a total of N287.351bn has been paid in verified claims to verified marketers.”
It said the prudent management of the subsidy regime enabled the Federal Government to reduce public spending on oil subsidy from N2.2tn in 2011 to N971bn last year.
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