HomeECONOMYNMDPRA Meets With Major Oil Marketers to Tackle Nigeria's Petroleum Product Scarcity...

NMDPRA Meets With Major Oil Marketers to Tackle Nigeria’s Petroleum Product Scarcity Woes

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by_Afor Kenneth

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) convened a crucial meeting on Tuesday with key major oil marketers to address the persistent challenges of petroleum product scarcity in the country.

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Farouk Ahmed, the CEO of NMDPRA, briefed journalists on the meeting’s outcomes, assuring Nigerians that depot owners and members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) will maintain supply continuity.

This assurance comes as NMDPRA initiates the process of settling the debt owed to depot owners, supported by verified documentation.

Last month, IPMAN had threatened to disrupt the supply of Premium Motor Spirit (PMS) due to outstanding bridging claims amounting to ₦200bn.

Additionally, Ahmed highlighted major marketers’ concerns regarding their inability to import petroleum products. He assured them that forthcoming projects like the Dangote Refinery would alleviate these challenges, although acknowledging that as business entities, they have autonomy in sourcing products.

Furthermore, discussions at the meeting addressed the Federal Government’s Compressed Natural Gas (CNG) initiative.

Ahmed encouraged major marketers to explore incorporating CNG availability at their gas stations, noting President Bola Tinubu’s directive for government vehicles to transition to CNG-powered models for future purchases.

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