There is good news for fuel marketers. President Muhammadu Buhari has asked the National Assembly to approve the payment of their N413 billion claims, it was learnt yesterday.
The payment is believed to be the key to ending the crippling petrol scarcity in many cities.
Petrol is being sold for between N100 and N400 per litre in various parts of the country. Queues are long at filling stations where there is fuel. Many others are shut for lack of supplies.
A Presidency source said last night that “only about N140 billion was appropriated for subsidy payment in the current budget and it has been exhausted”.
“Out of respect for the parliament, the President insisted that the right thing must be done by seeking approval from the National Assembly before an additional kobo is paid in excess of what the budget makes provision for.
“This is a clear departure from the past, when extra-budgetary expenditure was the norm.”
Another source said “the Nigerian National Petroleum Corporation (NNPC) expressed the belief that with the outstanding payment due to oil marketers now assured, the marketers and other downstream players will join hands with the corporation to guarantee that the nation remains wet with petroleum products all year round,” the source said.
The Senior Special Assistant (SSA), Media, to the President, Mallam Garba Shehu, noted that the President “is desirous to end the petrol scarcity. But he insists that due process must be followed.”
Marketers are hopeful that if the N413 billion subsidy cash is disbursed, the fuel scarcity will be over.
