NMDPRA Promises To Pay Off ₦200 Billion Debt at Meeting with Petrol Marketers

The problem of the nation’s persistent shortage of petroleum products was discussed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) with important major oil marketers on Tuesday.

In his briefing of journalists on the meeting’s results, NMDPRA Chief Executive Officer Farouk Ahmed reassured Nigerians that the NMDPRA has begun the process of paying the debt owed to depot owners with verified documents, and that members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) will not cut off supply.

The Premium Motor Spirit (PMS), or fuel, supply was threatened by IPMAN last month for non-payment of bridging claims totaling ₦200 billion.

The NMDPRA head also alluded to the fact that the big marketers bemoaned their inability to import petroleum products.

Though as businessmen they have the last say on where to acquire items, he reassured the oil marketers that stopgaps like the Dangote Refinery will provide comfort.

Ahmed further said that one of their main discussions was the Federal Government’s Compressed Natural Gas (CNG) project. He pleaded with the big marketers to investigate whether CNG is available at their petrol stations since President Bola Tinubu has mandated that government cars be bought going forward have to run on CNG.