The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) convened a critical meeting on Tuesday with major oil marketers to tackle the ongoing fuel scarcity issues in the country.
NMDPRA Chief Executive Officer, Farouk Ahmed, addressed the press afterward, providing reassurances to the public and outlining steps taken to ensure a steady supply of petroleum products.
Ahmed confirmed that the NMDPRA has initiated the process of settling outstanding debts owed to depot owners and members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) who hold verified claims.
This move aims to prevent any supply disruptions following IPMAN’s recent threat to halt the distribution of Premium Motor Spirit (PMS), commonly known as petrol, due to unpaid bridging claims amounting to ₦200 billion.
In the meeting, major marketers expressed concerns over their current inability to import petroleum products.
Ahmed responded by highlighting potential relief through the imminent operation of the Dangote Refinery, while also noting that the final decision on sourcing products remains with the marketers as part of their business strategy.
A significant portion of the discussion also focused on the Federal Government’s Compressed Natural Gas (CNG) initiative. Ahmed urged marketers to integrate CNG availability into their gas stations.
He said this aligns with President Bola Tinubu’s directive for all future government vehicle purchases to be CNG-powered, promoting a shift towards more sustainable and cost-effective energy sources.
