IPMAN assures of availability of petroleum products

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

IPMAN’s President, Mr Chinedu Okoronkwo, gave the assurance when he spoke with the Newsmem on Friday in Lagos.

Okoronkwo disclosed 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 was that marketers were afraid of bridging; that 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.

“However, following the assurance by the NMDPRA, marketers have agreed to resume their normal operations so there will not be issue of scarcity in any location,” he said.

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

He said it was also agreed at the meeting that those areas that does not require bridging should no longer be included in the payments.

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

“Bridging is to bridge the gap between areas where there are products and those far from the depots.

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