The Nigerian Midstream and Downstream Petroleum Regulatory Authority has agreed to clear the outstanding N200 billion bridging claims to petroleum products marketers as a way of resolving the crisis which has led to fuel scarcity in the country in recent times.
NMDPRA Chief Executive Officer, Farouk Ahmed, stated this while briefing newsmen on the outcome of a meeting with major oil marketers in Abuja on Tuesday.
Farouk also stated that the meeting was held to address the issues of incessant scarcity of petroleum products in the country.
As a result of the resolutions reached at the meeting, the NMDPRA boss assured Nigerians that depot owners and members of the Independent Petroleum Marketers Association of Nigeria will not shut down supply as the Authority has started the process of paying the debt owed the depot owners with verified documents.
IPMAN had threatened to cripple the supply of Premium Motor Spirit, also known as petrol, over non-payment of N200 billion 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 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.
SOURCE: thepointng.com