From ISAAC ANUMIHE, Abuja
Coordinating Minister and Minister of Finance the Finance, Dr Ngozi Okonjo-Iweala, yesterday said the Federal Government has released the N161.6 billion supplementary budget for subsidy payments, which was approved by the National Assembly to the Central Bank of Nigeria (CBN) since December 31, last year.
In a statement,Special Adviser to the Coordinating Minister for the Economy and Minister of Finance, Mr Paul Nwabuikwu, said that the payments are presently going through the CBN’s processes which include the conversion of the dollar equivalent from the Excess Crude Account and will be concluded soon.
The Minister confirmed that payments totalling N94 billion have been verified for 23 marketers who will be paid in the next few days. “We are committed to paying all companies who deserve to get subsidy payments just as we will not pay undeserving firms.
That is the mandate we have from the President,” Dr Okonjo-Iweala declared. Okonjo-Iweala, however, refuted media reports which alleged that the Federal Ministry of Finance is blocking verified payments to marketers.