minister of finance Dr ngozi okonjo iwela The Federal Government on Tuesday
expressed concern over the long queues of motorists at petrol filling
stations in Lagos, Abuja and other parts of the country, stating that a
Sovereign Debt Note of N100bn had been issued by the Debt Management
Office to settle part of the subsidy arrears owed oil marketers.
The Minister of Finance, Dr. Ngozi
Okonjo-Iweala, confirmed the issuance of the SDN through a statement
issued by her Special Adviser on Communications, Mr. Paul Nwabuikwu.
The minister sympathised with Nigerians
whose lives were being disrupted by the scarcity of petrol and said the
government was working hard to end the scarcity within the shortest time
possible.
Specifically, she said an agreement had
been reached with the marketers’ union that N100bn out of the
outstanding N185bn subsidy debt be paid.
The minister said as part of the
agreement, the government would not only pay the costs that the
marketers had incurred, but also the interests and fFUEL SCARCITYoreign exchange
differentials.
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