The Petroleum Products Retail Outlet Owners Association of Nigeria said it has commenced dialogue with the Nigerian government over the payment of N100 billion bridging claims owed to petroleum products marketers to halt a nationwide shutdown.
The President of PETROAN, Billy Gillis-Harry, disclosed this in a statement on Wednesday.
His statement came after the Independent Petroleum Marketers Association of Nigeria gave the government a seven-day ultimatum over the failure by the Nigerian Midstream and Downstream Petroleum Regulatory Authority to clear its N100 billion bridging claim.
However, in an update, PETROAN said it has intervened to ensure speedy resolution of the debt.
It stressed that a shutdown of the sector would have devastating consequences, such as fuel scarcity, economic disruption, and hardship for the Nigerian people.
Gillis-Harry urged IPMAN and other sister associations to join hands in advocating for resolution of the N100 billion unpaid bridging claim.
“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 issue affects not just our members but the entire industry and the Nigerian economy at large.
“We urge all stakeholders to join us in advocating for a swift resolution to this matter and to work,” he stated.
Recall that on Monday, IPMAN issued a seven-day ultimatum to the Nigerian government over the unpaid N100 billion bridging claim.