In a bid to ensure an hitch-free movement of people and goods, the federal government has approved the payment of about N166 billion to petroleum marketers as reimbursement for outstanding subsidy claims on the petrol they imported into the country.

A statement from the Petroleum Products Pricing and Regulatory Agency (PPPRA) yesterday in Abuja stated that the payment for batch I to batch M had been approved.

The statement also stated that batch M to batch P which amounts to N105 billion are however still at the Debt Management Office (DMO), awaiting payment.

PPPRA said the early release of the import allocation was in furtherance of the government’s resolve at ensuring continuous and robust products supply in the system, adding that it is aimed at sustaining the serenity in the downstream industry.

The Executive Secretary of the PPPRA, Mr. Farouk Ahmed, in the statement called on motorists not to engage in panic buying of petroleum.

He stated: “There is ample supply of petroleum products in the country and discharges and truck-out had continued in spite of the holidays and the festive periods.”

The PPPRA further explained that apart from facilitating an improved national petrol supply and stock build-up, the latest effort was also to enable marketers make adequate preparations towards products sourcing and importation early in 2015.