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2015-11-05 19:00:00

NIGERIA PAYS $2.1 BLN

NIGERIA PAYS $2.1 BLN

Nigeria's government has approved the payment of 413 billion naira ($2.1 billion) to oil marketers as outstanding payment for fuel subsidy claims, the state-run Nigerian National Petroleum Corporation (NNPC) said on Wednesday.

The government had not announced a payment to oil marketers in Africa's biggest crude producer 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 gasoline and fuels that it consumes owing to a neglected refining system and operates a…

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Tags: NIGERIA, OIL, NNPC
Chronicle:
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