Minister of Petroleum recourses, Diezani Alison-Madueke has approved the release of first quarter 2015 allocation to marketers for the importation of petroleum products into the country.
A statement issued by the Petroleum Product Pricing Regulatory Agency said the early release is in furtherance of the minster’s resolve at ensureing continuous and robust products supply in the system.
Executive secretary of the PPPRA, Farouk Ahmed also called on motorists not to engage in panic buying as there will be adequate preparations towards products sourcing and importation early in the new year.
Meanwhile, the Federal Government has approved the payment of about N166bn to petroleum marketers as reimbursement for outstanding subsidy claims
