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September 7, 2022
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it disbursed a total of 103,037,183,922.91 billion Naira bridging claims to oil marketers between December 2021 and August 2022.
The authority disclosed this 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 bridging fund is a special intervention put in place by the Nigerian government with the mandate of ensuring that petroleum products are sold at equal prices across the country by paying fuel marketers for every litre of fuel they sell within 100km to 450km of a depot.
The forum had threatened to embark on withdrawal of services due to accumulated unpaid bridging claims.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) across nine Northern states had on Monday embarked on three days warning strike over non-payment of their bridging claims.
The NMDPRA, in a statement, said it would fast-track the settlement of all outstanding claims when received from marketers after due verification and reconciliation.
“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 affirmed that it would 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. (NAN)
