NMDPRA Meets With Petrol Marketers, Pledges To Clear ₦200bn Debt

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), on Tuesday, met with key major oil marketers to address the issues of incessant scarcity of petroleum products in the country.

 

NMDPRA Chief Executive Officer, Farouk Ahmed, who briefed newsmen on the outcome of the meeting, assured Nigerians that depot owners and members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) will not shut down supply as the NMDPRA has started the process of paying the debt owed the depot owners with verified documents.

 

Last month, IPMAN had threatened to cripple the supply of Premium Motor Spirit (PMS), also known as petrol, over non-payment of ₦200bn bridging claims.

 

Furthermore, the NMDPRA boss hinted that the major marketers lamented their inability to import petroleum products.

 

He assured the oil marketers that stopgaps like the Dangote Refinery will bring succour even though as businessmen, they have the final say on where to source products.

 

Ahmed also disclosed that a major conversation they had was in the area of the Compressed Natural Gas (CNG) initiative of the Federal Government. He implored the major marketers to explore the availability of CNG in their gas stations as President Bola Tinubu has directed that government vehicles to be purchased henceforth must be CNG-powered.