By Bassey Udo
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has disbursed a total of about N103.04 billion to petroleum products marketers as outstanding 1bridging claims between December 2021 and August 2022.
The Authority Chief Executive, Farouk Ahmed, disclosed this on Tuesday at the meeting he held with members of the Northern Independent Petroleum Marketers Forum (NIPMF) in Abuja.
Ahmed said the disbursement was part of the regulatory Agency’s and effort to sustain the collaboration with industry stakeholders to ensure uninterrupted supply of Premium Motor Spirit (PMS) throughout the nation.
He said the meeting attended by the representatives of the NNPC Limited, just like previous engagements, was to address issues regarding
bridging claims and other matters.
The Authority, he explained, has resolved to make the payment of bridging claims to marketers an ongoing process.
He said outstanding payments to marketers would be disbursed as it is received from the appropriate quarters.
“It should be noted that The Authority has disbursed a total of
N103,037,183,922.91 between December 2021 and August 2022,” he said.
He said following the extensive deliberations between the parties, The Authority has further committed to fast-track the settlement of all outstanding claims when received from marketers after due verification and reconciliation.
NIPMF, he assured, has agreed to
work with the NMDPRA to ensure free flow of petroleum products nationwide.
“The NMDPRA affirms that it will continue to carry out its mandate as stipulated in the Petroleum Industry Act (PIA) which includes to promote and ensure the continuous and efficient operations of the Midstream & Downstream sector in
Nigeria,” he said.