The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has initiated discussions with the Nigerian government to address the N100 billion bridging claims owed to petroleum marketers, aiming to prevent a nationwide shutdown.
PETROAN President, Billy Gillis-Harry, made this known in a statement on Wednesday, following a seven-day ultimatum issued by the Independent Petroleum Marketers Association of Nigeria (IPMAN) to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the unpaid claims.
In an update, PETROAN emphasized its intervention to facilitate a swift resolution of the debt, warning that a shutdown of the sector could lead to fuel scarcity, economic instability, and hardship for Nigerians.
Gillis-Harry called on IPMAN and other industry stakeholders to collaborate in pushing for the settlement of the outstanding claims.
“The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has taken steps to ensure the payment of pending bridging claims. We urge our members to remain operational while engaging in constructive dialogue with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA),” he stated.
He reiterated PETROAN’s commitment to fostering stability in the downstream petroleum sector through cooperation and innovative solutions.
"This issue affects not only our members but the entire industry and the Nigerian economy. We call on all stakeholders to unite in advocating for a swift resolution to this matter,” he added.
Earlier, IPMAN had threatened to halt operations if the government failed to settle the outstanding N100 billion bridging claims within seven days.
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