Muhammadu Buhari, President, Federal Republic of Nigeria |
The
government had not announced a payment to oil marketers since July. NNPC said
it hoped the payment meant marketers would help to ensure the country “remains
wet with petroleum products all year round”.
Nigeria imports
the bulk of the 40 million litres a day of petrol and fuels that it
consumes owing to a neglected refining system and operates a costly subsidy
system to reimburse oil product importers.
An acute
fuel shortage crippled Africa’s most populace nation in April and May as fuel
importers shut their depots to press their case for the payment of
subsidy-related debts they said were owed by the then government.
That
administration was run by Goodluck
Jonathan, the predecessor of President Muhammadu Buhari who took office in
late May.
President Buhari,
who has said he will keep the petroleum portfolio for himself in his cabinet,
has been expected to review closely the subsidy scheme, which was revealed to
have paid out over $6 billion in fraudulent claims in 2012.
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