The lingering fuel scarcity may soon come to an end as the Federal government has approved the release of N407.07 billion as subsidy payment to oil marketers.
A statement from the Minister of Finance, Kemi Adeosun states that the money will be used to pay the subsidy arrears and the oil subsidy for 2015.
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Mrs Adeosun said President Muhammadu Buhari had directed that payments be made immediately in order to bring to an end the lingering fuel crisis which has caused great suffering to Nigerians.
She also said that despite dwindling revenues, the Federal government is committed to ensuring continuous availability of fuel to Nigerians.
The payments include arrears from the 2014 financial year as well as payments for the current year. With the payment of the subsidy, it is expected that fuel crisis in the nation will subside.
