The Federal Government has commenced the process of paying oil marketers the arrears it owes the marketers.

A statement from the Debt Management Office (DMO) last night stated that it has “commenced the accelerated implementation of the Programme in line with the process approved by the Federal Executive Council (FEC).”

The approved process the DMO revealed will be through the issuance of promissory notes to the oil marketers. The DMO also indicated that it would meet with the oil marketers in November 2018. The obligations due to the oil marketers represent interest accruals and foreign exchange differentials.

Source: The Nation