Library / NIGERIAN MIDSTREAM AND DOWNSTREAM PETROLEUM REGULATORY AUTHORITY (NMDPRA) ` Plot 1012, Cadastral Zone, Central Business District, FCT, Abuja PRESS RELEASE The Nigerian Midstream and Downstream Petrole

NIGERIAN MIDSTREAM AND DOWNSTREAM PETROLEUM REGULATORY AUTHORITY (NMDPRA) ` Plot 1012, Cadastral Zone, Central Business District, FCT, Abuja PRESS RELEASE The Nigerian Midstream and Downstream Petrole

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NIGERIAN MIDSTREAM AND DOWNSTREAM PETROLEUM REGULATORY AUTHORITY (NMDPRA) ` Plot 1012, Cadastral Zone, Central Business District, FCT, Abuja PRESS RELEASE The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has taken note of concerns raised by some Oil Marketers over their outstanding bridging claims . T he administration of bridging payment is a continuous process as hundreds of trucks load and discharge products daily thereby adding to the claims. S ince December 2021, the NMDPRA has made several payments to marketers whose claims ha ve been v erified . So far, o ver 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) . We wish to stress that t he total amount disbursed so far is the highest ever paid within a 6 - months span by previous fund administrators , which implies that the reimbursement of marketer’s transportation differentials for petroleum products movement from depots to sales outlets is a priority to the NMDPRA. In addition, F reight R ate s w ere recently reviewed upwards to reflect current market realities and stimulate investment s in the transportation of petroleum products in the country to ensure uninterrupted distribution. It is pertinent to note that some of the pending payment s is due to the reluctance of marketers to reconcile their claims, in spite of the Authority’s continuous appeal to come for reconciliation whenever there are discrepancies. Furthermore , we wish to assure the public that NNPC ha s sufficient PMS to last over 4 7 days , translating to about 2.6 5 billion litres , therefore there is no need to panic as the current situation being experienced in some parts of the country will soon stabili s e . To a ddress this, some loading depot s have been directed to operate on extended hours to enable increase d truck - out. In the interim, the vessel discharge operations h ave been reviewed to fast-track truck loading and distribution in order to meet increased demand. We wish to state that the Authority remains committed to honour and process legitimate and verified bridging claims to ensure product availability nationwide. Signed by Corporate Communications, NMDPRA 1 2 /05/2022