• FOR SALE: One bedroom executive flat, Lagos, Nigeria | Get details]

Business FG Orders Immediate Payment Of N150bn to Fuel Marketers



✅ NEW - car park, swimming pool, 24 hours light/security and more.
The Federal Government last night ordered the payment of the N150 billion Petroleum Equalisation Fund owed petroleum marketers.

The order followed a meeting between the Chief of Staff to the President, Mr Abba Kyari, and the stakeholders in the petroleum sector.

This was the outcome of a closed-door meeting between the Chief of Staff to the President, Abba Kyari and the marketers, at the Presidential Villa, Abuja, on Wednesday, which was called to avert a looming fuel crisis.

National Secretary of Independent Petroleum Marketers Association of Nigeria (IPMAN), Zarma Mustapha, told State House correspondents after the meeting that the order for the settlement of the debt was given by Kyari.


He said government had approved the payment which was incurred in bridging of petroleum supply across the country by their members.

Mustapha assured that the two-hour meeting had nothing to do with the speculated increase in the pump price of petrol.

“The government has directed that our monies must be paid and I am assuring you that with the payment, there is no cause for alarm.

“We are assuring our marketers that they should go back to their normal business as their outstanding will be paid in some few days,” he said.