• Home
  • News
    • National News
    • State News
  • Business
  • Features
    • Insight
    • Opinion
  • FAAC
  • Financial
    • Facts & Figures
    • Monetary
    • Tax Matters
  • Sidelines
  • Profile
  • Special Focus
Sign in
Welcome!Log into your account
Forgot your password?
Password recovery
Recover your password
Search
Monday, June 5, 2023
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
Economic Confidential
  • Home
  • News
    • AllNational NewsState News
      President Bola Ahmed Tinubu and wife, Oluremu Tinubu

      48 Hours After Assuming Office, Tinubu Yet to Make Official Appointments

      Founder of FCMB, Late Chief Olasubomi Balogun

      FCMB Founder, Subomi Balogun, is Dead

      VP Elect, Kashim Shettima Inspecting a School in 2017

      VP-Elect Shettima Inspecting School Project, Not Meeting with Bandits in Video,…

      Nigerian Customs Service, NCS

      NCS Intercepts 2,428 Litres of Petrol

  • Business
    • Asiwaju Bola Ahmed Tinubu

      Subsidy Removal: We must do Soul-Searching on Minimum Wage – Tinubu

      nigeria celebrity endorsement mtn airtel, etisalat, glo

      Telcos Issue Banks Disconnection Notice over N120bn USSD Debt

      Inflation: Nigerians’ Household Consumption Declines in 2022 – NBS

      Reps Approve $700m Disbursement Fund to Maritime Operators

      Nigerian Customs Service

      World Bank, Customs Partner to Improve Trade Compliance

  • Features
    • AllInsightOpinion
      Asiwaju Bola Ahmed Tinubu

      The Person Needed for President Tinubu’s NSA By Yushau A….

      Fuel Subsidy

      Fuel Subsidy: The Genesis and Nemesis, by Adedamola Adetayo

      President Bola Ahmed Tinubu

      President Tinubu: Please Review Subsidy Removal, by Aliyu U. Tilde

      IMPR Ladies in Zambia for the Award

      TRAVELOGUE: The Emotional Rollercoaster to APRA 2023 in Lusaka By Nafisat…

  • FAAC
    • FAAC

      Akwa Ibom, Rivers, Delta Lead As States Share N9.3trn In Three…

      FAAC

      FAAC: FG, States, LGAs Share N722.677 for February

      FAAC

      Kano, Lagos, Get Massive Share As LGs Share N2trn

      FAAC

      FG, States, LGCs Share N990.189bn In Dec 2022

      FAAC

      FAAC Shares 902.053 billion for November

  • Financial
    • AllFacts & FiguresMonetaryTax Matters

      Reps Bill: RMAFC to Probe Illegal Salaries

      President Bola Ahmed Tinubu

      Tinubu Inherits Over N16trn Uncompleted Projects

      Director General of DMO, Patience Oniha

      DMO Canvasses Revenue Growth, Spending Cuts

      Insurance

      Insurance Sector Shrinks By 7% Over Cash Crunch – NBS

  • Sidelines
    • Saliu Mustapha

      Visit Kwara: Saliu Mustapha Pens Foreward For New Book Spotlighting Kwara…

      Apple Data Breach: Marketing Strategy or Security Issue

      Dangote-BUA Sugar Scarcity Feud

      Google: Expanding 2-Step Verification Enrollment

      SAEMA Awards 2021: Submit Nominees for Security and Emergency Management Awards

  • Profile
    • PHOTOS: PRNigeria Ladies Bag Double 2023 SABRE African PR Awards in…

      Yusuf Alli @60: Unveiling an Investigative Journalist Par Excellence

      Pantami’s grand exposés on Cybersecurity and the Datafication of Society

      The Inimitable Kongi at 88

      The Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo

      Adeniyi Adebayo: Unsung, Silent Strides in Economic Diversification

  • Special Focus
    • imported Foreign Rice

      REVEALED: How Illicit Rice Importation is Threatening FG’s Agricultural Sector Interventions

      An abandoned mining site in the Barkin Ladi area of Plateau state

      Abandoned mines: A Danger to Communities Across Nigeria

      Maraba Takushara Community

      SPECIAL REPORT: Maraba Takushara, an FCT Community Under Siege… So Close…

      Yahaya Bello’s Health Initiatives: Building Nigeria of his Dreams in Kogi

      Model Science Secondary School: Yahaya Bello’s Gift to Future Generations

Home Business Non Payment Of 10 Months Bridging Arrears Hindering Supply – IPMAN
  • Business

Non Payment Of 10 Months Bridging Arrears Hindering Supply – IPMAN

By
Economic Confidential
-
December 8, 2021
IPMAN
IPMAN
FIRS

Non Payment Of 10 Months Bridging Arrears Hindering Supply – IPMAN

 

 

Outstanding arrears for bridging owed petrol marketers for fuel by Federal Government’s debts to petroleum products marketers in respect of bridging cost for premium motor spirit (PMS) is now in excess of 10 months.

Owing to the accumulated debt, most of the marketers can no longer purchase their tickets to lift petrol from the depots, resulting in the emergence of queues in the filling stations.

The Independent Petroleum Marketers Association of Nigeria (IPMAN), National Vice President, Alhaji Alhaji Abubakar Maigandi, broke the news yesterday.

There were traces of scarcity of the PMS in the Federal Capital Territory (FCT).

While most of the retail outlets from Zuba to Orozo, where our Abuja correspondent monitored the fuel sales, were under lock and key, some smart black marketers were already selling the product in Jerry cans.

Asked why the petrol stations were not dispensing, Maigandi said: ” The reason you are seeing queues is connected with the non payment from Petroleum Equalisation Fund for getting to 10 months now.

“Most of the marketers cannot bridge because they don’t have the money to buy the tickets. This is why you see queues around the petrol stations.”

Meanwhile, he confirmed to The Nation that the petrol price at the depot has dipped from N159/litre to N153 to N154/ litre.

He described it as a better situation than, regretting that the bridging debt is not allowing marketers to take advantage of the lower depot prices.

Maigandi said: “The price has reduced. Some of the places are selling at the rate of N153/litre. Even though it is higher than the official rate it is better that when it was N159/litre.”

At the scrapping of the Petroleum Equalisation Find (PEF), the Minister of State for Petroleum Resources, Chief Timipre Sylva, assured the marketers that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) would take over the debts that the PEF was owing.

Last Friday, The Nation reported that the NMDPRA’s Chief Executive Officer (CEO), Ahmed Farouk approved the release of 4% of the debt to the marketers.

The approval was sequel to the meeting that the Nigerian Association of Road Transport Owners (NARTO) held with the Farouk last Thursday, where the National President, Alhaji Yusuf Lawal Othman requested for the payment of outstanding bridging debt.

Group General Manager, Group Public Affairs Division, Nigerian National Petroleum Corporation (NNPC), Malam Garba Deen Muhammad said there is enough fuel supply and there is no need for any anxiety over supply chain or storage, assuring Nigerians of adequate supply of fuel.

digital marketing guest blogging

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

PRNigeria.com
EconomicConfidential.com
PRNigeria.com/Hausa
EmergencyDigest.com
PoliticsDigest.ng
TechDigest.ng
HealthDigest.ng
SpokesPersonsdigest.com
TeensDigest.ng
ArewaAgenda.com
Hausa.ArewaAgenda.com
YAShuaib.com
  • TAGS
  • Alhaji Alhaji Abubakar Maigandi
  • Arrears
  • IPMAN
  • Non Payments
Previous articleSimon Harry: 100 Days Of The New Sheriff At NBS, by Damilola Olufemi
Next articleCEOs Network To Hold 3rd Annual Awards For Young Entrepreneurs, by Reginald Tobin
Economic Confidential

RELATED ARTICLESMORE FROM AUTHOR

Asiwaju Bola Ahmed Tinubu
Business

Subsidy Removal: We must do Soul-Searching on Minimum Wage – Tinubu

nigeria celebrity endorsement mtn airtel, etisalat, glo
Business

Telcos Issue Banks Disconnection Notice over N120bn USSD Debt

Business

Inflation: Nigerians’ Household Consumption Declines in 2022 – NBS

Business

Reps Approve $700m Disbursement Fund to Maritime Operators

Nigerian Customs Service
Business

World Bank, Customs Partner to Improve Trade Compliance

Nigerian Maritime
Business

Operators kick as Maritime Workers Threaten Strike

SEMA

Book on Sales: Boko Haram Media War: An Encounter with the Spymaster

boko haram

Click Here: To Order Now!

PRNigeria FEEDS

Loading RSS Feed

EDITOR PICKS

Asiwaju Bola Ahmed Tinubu

The Person Needed for President Tinubu’s NSA By Yushau A....

Opinion June 4, 2023
Fuel Subsidy

Fuel Subsidy: The Genesis and Nemesis, by Adedamola Adetayo

Opinion June 4, 2023
President Bola Ahmed Tinubu

President Tinubu: Please Review Subsidy Removal, by Aliyu U. Tilde

Opinion June 4, 2023

POPULAR POSTS

Nigerian Maritime

FG Loses $1bn Annually In Maritime Sector

Monetary May 19, 2020

Ajaokuta Steel Company Gets N4.3bn for Revival

Business January 9, 2017
MTN Office

MTN Nigeria Opens Offer Of N100bn Commercial Paper Issuance

Business May 29, 2020

POPULAR CATEGORY

  • Business10389
  • Monetary2814
  • Financial2469
  • Featured Post2211
  • National News1888
  • News1855
  • Editors Pick1725
  • Opinion1115
  • Features710
ABOUT US
Economic Confidential is the Abuja based Nigerian News Magazine. Economic Confidential Magazine is Factual, Authoritative and Accessible.
Contact us: editor@economicconfidential.com
FOLLOW US
© 2017 Economic Confidential . All Rights Reserved.
X whatsapp