Federal Government
says it has reduced debts owed marketers on oil subsidy from N2.2 trillion in
2011 to N971 billion in 2012.
The information is
contained in a statement issued from the office of the Coordinating Minister
for the Economy, Dr Ngozi Okonjo-Iweala, in Abuja.
The statement,
signed by the minister’s spokesman, Paul Nwabuikwu, said the amount represented
a reduction of over N1.2 trillion or 56 per cent of the total sum.
It said the
Federal Ministry of Finance had released N46. 76 billion as latest payment to
oil marketers whose claims had been verified.
The statement said
that the latest payment brought the total verified claims paid to marketers so
far in 2013 to N287. 35 billion.
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