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FG not paying subsidy to marketers — Adeosun

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ABUJA—THE Federal Government, yesterday, explained the controversy surrounding the issue of subsidy payment, saying  technically, no subsidy was being paid to the importers of petroleum products, but Nigerian National Petroleum Corporation, NNPC, to take care of the under recovery from the loss incurred in the importation.

FG not paying subsidy to marketers — Adeosun

The under recovery, which the NNPC pays to cover the loss, was money that should have been shared among the three tiers of government.

Minister of Finance, Mrs. Kemi Adeosun, made the explanation while fielding questions from State House correspondents, after the weekly Federal Executive Council, FEC, meeting, presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja.

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