The Petroleum Retailers Outlet Owners Association of Nigeria (PETROAN) has instructed its members to refrain from shutting down their operations over the non-payment of the N100bn bridging claims.
This decision comes after the Independent Petroleum Marketers Association of Nigeria (IPMAN) issued a seven-day ultimatum to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to pay the bridging claims owed marketers.
PETROAN opted for dialogue instead of industrial action, citing the potential devastating consequences of a shutdown, including fuel scarcity, economic disruption, and hardship for Nigerians.
Obele emphasized the importance of constructive engagement and good-faith negotiations to resolve the issue. “Through dialogue, we believe that all parties can identify mutually beneficial solutions; build trust and strengthen relationships; avoid costly and damaging shutdowns; ensure the continued stability and growth of the downstream petroleum sector,” he stated.
PETROAN also commended President Bola Tinubu’s efforts to reform the petroleum sector, promoting transparency, accountability, and economic growth. The association encouraged all stakeholders to support and encourage these reforms, rather than sabotaging them.
Furthermore, PETROAN urged the authorities responsible to facilitate the prompt payment of outstanding bridging claims to its members. “This will help to alleviate the financial burden on our members and ensure the continued smooth operation of the downstream petroleum sector,” Obele said.
Under the leadership of National President Dr. Billy Gillis-Harry, PETROAN remains committed to promoting the stability and growth of the downstream petroleum sector through dialogue, cooperation, and innovative solutions. Obele concluded, “We urge our members to remain calm and law-abiding while we engage with NMDPRA and other stakeholders to find a lasting solution to the issue.”
