HomeNewsIPMAN addresses fears of fuel scarcity

IPMAN addresses fears of fuel scarcity

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured Nigerians of the availability of petroleum products, allaying fears of possible scarcity in some parts of the country.

IPMAN’s President, Mr Chinedu Okoronkwo, gave the assurance during an interview with the News Agency of Nigeria (NAN) on Friday in Lagos.

Okoronkwo confirmed that the marketers have resolved the problem of non-payment for bridging by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

“We met with Mr Farouk Ahmed, Chief Executive Officer, NMDPRA and resolved the issue.

“What happened earlier was that marketers were afraid of bridging; which is transporting petrol from the depot to another depot that is experiencing supply shortfall due to distance.

“They were not sure of getting bridging payments especially with the scrapping of the Petroleum Equalisation Fund,” he said.

He mentioned that marketers have now agreed to resume their normal operations following the assurance by the NMDPRA, so there will not be an issue of scarcity in any part of the country.

“Now that the authority has allayed fears that the government will pay marketers for bridging, pending full deregulation, normal operations will resume,” Okoronkwo said.

He added that it was also decided at the meeting that those areas that do not require bridging should no longer be included in the payments.

“So for instance if you’re supplying products in Lagos and Port Harcourt that do not require bridging, then there is no need for any payment in that area.

“That was the outcome of the meeting and we all agreed to the resolutions to ensure smooth distribution of petroleum products ahead of the yuletide,” he said.

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