PETROAN Promises Not To Down Tools Over N100BN Bridging Claims

The Petroleum Retailers Outlet Owners Association of Nigeria, PETROAN, has urged members not to shut down operations.

This is following the association’s conflict with the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, over bridging claim issues.

National Public Relations Officer, for PETROA, Joseph Obele, made the call after an emergency national executive meeting in Abuja, stressing that that the association would dialogue with NMDPRA over the outstanding payments of the bridging claims rather than shutting down operations.

According to Obele, a lot will be achieved through dialogue, especially when parties identify mutually beneficial solutions, build trust and strengthen relationships.

“While acknowledging the frustration and concerns of members regarding the unpaid bridging claims totalling N100 billion, PETROAN firmly believes that a shutdown will have devastating consequences.

“These consequences include fuel scarcity, economic disruption and

hardship for the Nigerian people,” he said. “The association urges all parties to engage in constructive engagement and good-faith negotiations to resolve the issue,” he said.

“A lot will also be achieved if we avoid costly and damaging shutdowns and 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” he said.

Obele therefore urged the authorities responsible to facilitate the prompt payment of outstanding bridging claims to do so, stating that it would help to alleviate the financial burden on members and ensure the continued smooth operation of the downstream petroleum sector.

He therefore commended the National President, Dr. Billy Gillis-Harry, for promoting the stability and growth of the downstream petroleum sector through dialogue, cooperation and innovative solutions.