PETROAN calls for dialogue over N100bn bridging claims dispute, warns against shutdown

BY MOTOLANI OSENI

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has intervened in the ongoing dispute over unpaid bridging claims, urging its members to avoid shutting down operations and instead advocate for dialogue with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

PETROAN, in a statement yesterday, signed by its National President, Dr Billy Gillis-Harry, explained that it understands the frustration of its members over the N100 billion in outstanding claims but stresses that a shutdown would lead to severe consequences such as fuel shortages, economic disruption, and hardship for Nigerians.

The association, noted that it believes that dialogue offers several benefits, including identifying mutually beneficial solutions, building trust, avoiding costly shutdowns, and ensuring the stability and growth of the downstream petroleum sector.

Meanwhile, PETROAN had earlier in the week directed its members not to proceed with shutting down operations, urging instead for dialogue to resolve the issue of unpaid bridging claims with the NMDPRA.

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PETROAN reaffirmed its commitment to dialogue, a position supported during a recent stakeholders meeting led by Senator Heineken Lokpobiri, Ph.D., the Honourable Minister of State for Petroleum.

The association, therefore, called on all parties to engage in good-faith negotiations to reach a resolution, emphasising that through dialogue, mutually beneficial solutions can be identified, trust can be built, and costly disruptions can be avoided, ensuring the long-term stability and growth of the downstream petroleum sector.

However, called on the relevant authorities to expedite the payment of outstanding bridging claims to alleviate the financial strain on its members and facilitate the continued smooth operation of the sector.

The association urged its members to stay calm and law-abiding while engaging with NMDPRA and other stakeholders to find a lasting resolution.

PETROAN has also commended President Bola Tinubu’s efforts to reform the petroleum sector, encouraging stakeholders to support these initiatives rather than hinder them.

The association is committed to promoting sector stability through cooperation and innovative solutions and calls on all industry stakeholders to address the unpaid bridging claims, a matter of concern for both members and the wider Nigerian economy.