Regulatory body intervenes; Petroleum Marketers suspend planned strike

The northern Independent Petroleum Marketers Forum suspended its planned strike after reaching an agreement with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja last night.

A statement by the GM, Corporate Communication department of the Authority, Kimchi Apollos, said the NMDPRA moved in to apprehend the planned strike as the regulators of the sector.

“In line with the mandate of The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to collaborate with industry stakeholders in ensuring uninterrupted supply of Premium Motor Spirit (PMS) throughout the nation, The Authority held a meeting with the Northern Independent Petroleum Marketers Forum (NIPMF) on 5th and 6th September 2022 with the participation of the NNPC Limited.”

Apollos briefed that previous meetings and yesterday’s meeting addressed issues regarding bridging claims and other matters.
“The Authority would like to reiterate that payment of bridging claims is an ongoing process and payments are disbursed as it is received from marketers.”

The Authority Chief Executive (ACE), Engr Farouk Ahmed said the Authority has disbursed a total of N103,037,183,922.91 Naira between December 2021 to August 2022.

Following the extensive deliberations between the parties, the Authority further commits to fast-track the settlement of all outstanding claims when received from marketers after due verification and reconciliation. NIPMF has agreed to work with the NMDPRA to ensure the
free flow of petroleum products nationwide.

The NMDPRA assuresd that it will continue to carry out its mandate as stipulated in the Petroleum Industry Act (PIA} which includes promoting and ensuring the continuous and efficient operations of the midstream and downstream sectors in the country