July 13, 2024

Fuel marketers paid N103bn bridging claims to oil marketers in 9 months — NMDPRA

Oredola Adeola

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) revealed that it has released a total of N103,037,183,922.91 billion, as bridging claims to oil marketers across the country between December 2021 and August 2022.

The NMDPRA made this known at the end of its meeting  with the Northern Independent Petroleum Marketers Forum (NIPMF) and the Nigerian National Petroleum Corporation Limited (NNPC Ltd.) officials, on Tuesday in Abuja.

The Authority made this disclosure in reaction  to claims by the Independent Petroleum Marketers Association Nigeria (IPMAN), in nine Northern states, to embark on warning strike over the failure of the Federal Government to offset accumulated N70 billion unpaid bridging claims in the last three years.

NMDPRA said, “The Authority would fast-track the settlement of all outstanding claims when received from marketers after due verification and reconciliation.

“Payment of bridging claims was an ongoing process and payments were disbursed as they were received from marketers.

“The meeting is in line with NMDPRA mandate to collaborate with industry stakeholders in ensuring uninterrupted supply of Premium Motor Spirit (PMS) throughout the nation.

“The meeting addressed issues regarding bridging claims and other matters.

“NIPMF has agreed to work with the NMDPRA to ensure free flow of petroleum products nationwide,” the authority said.

The NMDPRA however promised to continue to carry out its mandate as stipulated in the Petroleum Industry Act (PIA), aimed at promoting and ensuring continuous and efficient operations of the Midstream and Downstream sector in Nigeria.