In response to the persistent scarcity of petroleum products in Nigeria, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) convened a crucial meeting with key major oil marketers on Tuesday.
The meeting aimed to address the root causes of the supply challenges plaguing the nation.
Farouk Ahmed, the Chief Executive Officer of NMDPRA, held a press briefing following the meeting to provide insights into the discussions and outcomes.
Central to Ahmed’s remarks was an assurance to Nigerians that depot owners and members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) would not halt the supply chain.
This commitment stemmed from NMDPRA’s initiation of debt settlement processes with depot owners, supported by verified documentation.
The recent threat by IPMAN to disrupt the supply of Premium Motor Spirit (PMS), commonly known as petrol, due to outstanding ₦200bn bridging claims, had heightened concerns over fuel availability. Ahmed’s assurance alleviated fears of potential supply disruptions.
Addressing the challenges faced by major marketers in importing petroleum products was another focal point of the meeting.
Ahmed acknowledged their grievances and highlighted forthcoming solutions, notably the imminent operation of the Dangote Refinery.
While affirming the prerogative of businessmen to choose their product sources, Ahmed emphasized the potential relief that initiatives like the Dangote Refinery could offer.
A significant portion of the discussion centered on the Federal Government’s Compressed Natural Gas (CNG) initiative.
Ahmed urged major marketers to explore integrating CNG availability into their gas stations.
This push aligns with President Bola Tinubu’s directive mandating government vehicles to transition to CNG propulsion systems for future acquisitions
