The Federal Government and petroleum marketers on Thursday in a meeting held at the headquarters of the Ministry of Finance in Abuja, reached an agreement on how the outstanding fuel subsidy claims would be settled by the government.
According to a statement signed by Media Adviser to the Minister of Finance, Mr Paul Ella, the marketers assured the government that operations at all depots and sales would continue until further notice.
The meeting was attended by senior government officials from the ministry, Debt Management Office, Nigerian National Petroleum Corporation and the Central Bank of Nigeria.
Also in attendance were representatives from the Budget Office of the Federation, the Office of the Accountant-General of the Federation and the Petroleum Products Pricing Regulatory Agency.
The Oil marketers had on Sunday issued a seven-day ultimatum to the Federal Government for the payment of all outstanding subsidy debts, including foreign exchange differentials and interest rate component, owed to them.
The statement said the marketers after the meeting expressed satisfaction over the arrangement being made by the Federal Government to settle their claims.
Recall that the Nigerian Senate on Thursday urged the Federal Government to direct all concerned agencies to pay the subsidy arrears as approved by the Federal Executive Council, FEC, and passed by the National Assembly within two weeks.
The upper chamber also asked the oil marketers to rescind their 7-day ultimatum for government to look into their demand in line with all outstanding liabilities and put an end to all subsidy claims.
It would be recalled that oil marketers had last Sunday gave the Federal Government seven-day ultimatum to settle outstanding debts totalling N800 billion, failing which depots would cease operation across the country.

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