In order to prevent a nationwide closure, the Petroleum Products Retail Outlet Owners Association of Nigeria said that it has started discussions with the Nigerian government regarding the payment of N100 billion in bridging claims owed to petroleum products marketers.
Billy Gillis-Harry, PETROAN’s president, revealed this in a statement on Wednesday.
His remarks followed a seven-day ultimatum from the Independent Petroleum Marketers Association of Nigeria to the government on the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s inability to settle its N100 billion bridging claim.
PETROAN, however, stated in an update that it has stepped in to guarantee a prompt settlement of the debt.
It emphasized that a sector shutdown would have disastrous effects on the Nigerian people, including fuel shortages, economic upheaval, and misery.
Gillis-Harry called on IPMAN and other sister organizations to work together to push for the N100 billion unpaid bridging claim to be resolved.
“The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has stepped in to facilitate the pending payment of bridging claims, urging its members to refrain from shutting down operations and instead advocate for dialogue to resolve the issue with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“PETROAN acknowledges the frustration and concerns of its members regarding the unpaid bridging claims, which total N100 billion.
“However, the association believes that a shutdown would have devastating consequences, including fuel scarcity, economic disruption, and hardship for the Nigerian people.
“Under my leadership, PETROAN remains committed to promoting the stability and growth of the downstream petroleum sector through dialogue, cooperation, and innovative solutions.
“I hereby call on all sister stakeholders to add their voices to the matter, emphasising that the unpaid bridging claims should be a concern to all.
This problem impacts not just our members but also the Nigerian economy as a whole and the industry as a whole.
“We implore all parties involved to work with us and support a prompt resolution to this issue,” he said.
Remember how IPMAN gave the Nigerian government a seven-day ultimatum on Monday regarding the outstanding N100 billion bridging claim?
