IN BUSINESS
Written by darling on July 20, 2018
Senate has approved the payment of subsidy claims totaling 348billion naira to oil marketing companies based on a request by President Muhammadu Buhari.
The approval was made at the plenary following the adoption of the interim report by the Senate Committee on Petroleum (Downstream), Promissory Note Programme and Bond Issuance to Settle Inherited Local Debts and Contractual Obligations to Petroleum Marketers.
While approving that 55 oil marketers be paid verified figures totaling275.7 billionnaira, the upper chamber of the National Assembly asked that 19 marketers with contentious claims and verified figures be paid 65 per cent of their claims, amounting to 73.4 billion naira pending further investigation and verification by the committee.
