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Fuel subsidy payments for 2013 hit N192.5 billion (Plus list of beneficiaries)

By News Express on 18/06/2013

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Nigeria has paid over N192 billion verified fuel subsidy claims this year, the country’s Federal Ministry of Finance has disclosed,” Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala said yesterday.

The latest payments covered 39 claims made by 19 companies and amounted to N56,806,010,752.45. “In addition, earlier in the year, a total of N135,696,269,214.05 was paid to Oil Marketers in respect of verified 2011 and 2012 arrears. Thus, the total amount paid to Oil Marketers so far in 2013 is N192,502,279,966.50,” Okonjo-Iweala said in a statement signed by her Special Adviser, Paul C Nwabuikwu.

She emphasised that the payments were “in line with the continued commitment of the Federal Ministry of Finance to manage fuel subsidy payments in a transparent and efficient manner that protects and enhances the interests of the Nigerian people.”

Okonjo-Iweala (shown in photo) explained that the ministry makes payments under the fuel subsidy programme “based on batches of claims as submitted by the Petroleum Products Pricing Regulatory Agency (PPPRA).”

Below is a list which details the current status of payments in respect of 2013 verified claims by marketers as at June 10, 2013.

           S/No              NAME OF OIL MARKETER                   NO. OF CLAIMS

1

AITEO ENERGY RESOURCES LIMITED

1

2

ASCON OIL COMPANY LTD

2

3

A-Z PETROLEUM PRODUCTS LIMITED

2

4

BOVAS & COMPANY

1

5

FOLAWIYO ENERGY LIMITED

3

6

FORTE OIL PLC

2

7

GULF TREASURES LIMITED

1

8

INTEGRATED OIL AND GAS LIMITED

3

9

MASTERS ENERGY OIL AND GAS LIMITED

2

10

MOBIL OIL NIGERIA PLC

2

11

NIPCO PLC

3

12

NORTHWEST PETROLEUM & GAS LTD

3

13

RAHAMANIYYA OIL AND GAS LIMITED

3

14

RAINOIL LIMITED

1

15

SAHARA ENERGY RESOURCES LIMITED

3

16

SHORELINK OIL AND GAS SERVICES LIMITED

2

17

SWIFT OIL LTD

1

18

TECHNO OIL LTD

2

19

TOTAL NIGERIA PLC

Total:  N56,806,010,752.45

2

Source News Express

Posted 18/06/2013 12:09:40 PM

 

 

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