The Petroleum Retailers Outlet Owners Association of Nigeria (PETROAN) has instructed its members to refrain from shutting down operations. Instead, the association advocates for dialogue to resolve the outstanding bridging claims issue with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The association said the decision was taken following an emergency National Executive meeting.
“While acknowledging the frustration and concerns of its members regarding the unpaid bridging claims totalling N100 billion, PETROAN firmly believes that a shutdown would have devastating consequences, including fuel scarcity, economic disruption, and hardship for the Nigerian people.
“As resolved in the last stakeholders meeting chaired by the minister of state for Petroleum, Heineken Lokpobiri, PETROAN reaffirms its commitment to dialogue rather than industry action. The association urges all parties to engage in 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 PETROAN also commends President Bola Tinubu’s efforts to reform the petroleum sector, promoting transparency, accountability, and economic growth. The association encourages all stakeholders to support and encourage these reforms, rather than sabotaging them.
“Furthermore, we encourage the authorities responsible to facilitate the prompt payment of outstanding bridging claims to our members. This will help to alleviate the financial burden on our members and ensure the continued smooth operation of the downstream petroleum sector.
“Under the leadership of our 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.
“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,” it stated.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
