The reconciliation of the outstanding bridging claims by marketers of premium motor spirit (PMS) by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is underway. The authority has consistently maintained that N500 billion bandied around by some marketers is not correct and that reconciliation has not been concluded. NMDPRA explained that the administration of bridging payment is a continuous process, as hundreds of truckloads and discharge products daily, thereby, adding to the claims. “Since December 2021, the NMDPRA has made several payments to marketers whose claims have been verified. So far, over N58 billion has been disbursed to oil marketers out of which about N34 billion went directly to members of the Independent Petroleum Marketers Association of Nigeria (IPMAN),” the authority said.

Source: The Guardian May 19, 2022 07:13 UTC