Marketers Urge Regulators to Settle ₦190bn Bridging Claims to Prevent Future Disruptions
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured Nigerians that there is sufficient supply of petroleum products nationwide to meet demand throughout the festive season, pledging to prevent fuel queues across the country.
The assurance was given by IPMAN National President, Abubakar Shettima, during a press briefing at the association’s national headquarters in Abuja.
IPMAN Calls for Urgent Payment of Outstanding Claims
Shettima used the opportunity to urge the new leadership of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to take immediate steps to settle long-standing bridging claims owed to IPMAN members, estimated at over ₦190 billion.
He warned that continued delays in payment could affect the smooth distribution of petroleum products in the coming months.
“The new leadership of the NMDPRA must make the settlement of these debts a priority. Failure to do so could pose challenges to fuel supply going forward,” he said.
Support for Local Refining to Lower Fuel Costs
IPMAN also reiterated its support for efforts aimed at expanding local refining capacity, not only through the Dangote Petroleum Refinery but also via other domestic refinery operators.
According to the association, increased local production would significantly reduce dependence on foreign exchange for fuel imports and allow Nigerians to benefit from more stable and affordable fuel prices.
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