‘FG spent N11tr for subsidy claims in six years‘

Finance Ministry denies knowledge of NNPC’s $3.5bn subsidy fund

Chairman of the Senate Committee on Petroleum (Downstream), Kabir Marafa, said on Thursday the Federal Government spent over N11 trillion as payment for outstanding subsidy claims in the last six years. 

Also on Thursday, the Senate approved the payment of N129 billion as outstanding subsidy claims to 67 petroleum marketers.

The approval followed the adoption of the report of its Committee on Petroleum Downstream on the Promissory Note Programme and a Bond Issuance for Oil Marketers Outstanding Claims.

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