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Petroleum Marketers Send Message To Nigerians Ahead Of Christmas Celebration

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South Africans are set for another knock to their pockets, with big petrol price increases kicking in from Wednesday.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has allayed the fears of Nigerians concerning the scarcity of petrol ahead of yuletide.

The president of the association, Mr. Chinedu Okoronkwo calmed the nerves in a chat with newsmen on Friday, November 12 in Lagos.

He stated that the problem they were facing was bridging which is the transportation of petrol from the depot to another depot that is experiencing supply shortfall due to distance.

Okoronkwo maintained that marketers were afraid of bridging because they were not confident of getting paid due to the recent scrapping of the Petroleum Equalisation Fund. However, the president said that the issue had been resolved as NMDPRA had promised the marketers that they would be compensated for their services.

He said: “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 an issue of scarcity in any location.

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

“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.”

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