N413 Billion Petroleum Subsidy: Buhari Sought National Assembly Approval

Minister of state for Petroleum Resources, Ibe Kachikwu, says Buhari last week sought for National Assembly Approval for subsidy claims to Oil marketers.

Mr Kachikwu stated this when he resumed work at the Federal Ministry of Petroleum Resources in Abuja after the Ministers inauguration.

He said, “So, the President is taking time to write to the National Assembly to apprise it of the need to do this. I was one of those who pushed heavily for that money to be paid because when you don’t do that, most of their factories are closing, their capacity to import is almost zero, their staff members have not been paid for some months and the NNPC does not have the singular capacity to import all the products required in this country. So, those are the clear facts.
“So, do we want to pay? Yes. Have we provided for the money? Yes. But do we need approval from outside the executive to implement that? Yes. So, it is going through a process. I do urge them (marketers) to be a bit patient; the President is working hard on this and I’m sure in a matter of a week, or so, you will have this issue resolved.”
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