The Federal Government said it has paid N58 billion bridging claims to oil marketers under the aegis of Independent Petroleum Marketers Association of Nigeria (IPMAN).
It also said the amount paid so far was the highest-paid within a 6-months span by previous fund administrators.
In a statement, while responding to threats by IPMAN to proceed on industrial action over N500 billion bridging claims owed by the government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said while it had noted the concerns raised by some oil marketers over outstanding bridging claims, it was important to clarify that the administration of bridging claims payment is a continuous process as hundreds of trucks load and discharge products daily thereby adding to claims.
The agency said several claims had been paid since December to marketers with verified claims as the reimbursement of marketer’s transportation differentials for petroleum product movement from depots to sales is a priority to the NMDPRA.
It added that Freight Rates were recently reviewed upwards to reflect current market realities and stimulate investments in Nigeria’s transportation of petroleum products to ensure uninterrupted distribution.
The NMDPRA further said the reluctance by some marketers to reconcile their claims, where discrepancies were found, in spite several appeals, was also responsible for the delay.
Meanwhile, the agency has also revealed that in spite the fuel queues that resurfaced in the Abuja since last weekend, the NNPC has Premium Motor Spirit (Petrol) that can last over 47 days.
According to the agency, the nation has 2.65 billion litres of fuel and that will last for 47 days.
