IPMAN Warns of Shutdown due to NMDPRA's Failure to Pay N200 Billion Bridging Debts
Nigeria, May 1 -- The persistent shortage of petrol is causing distress, especially in the Federal Capital Territory and Abuja city center, despite promises from NNPC Limited, the situation remains dire, with long queues at filling stations becoming a common sight.
This scarcity has paved the way for black market vendors to exploit the situation, selling petrol at exorbitant prices, sometimes reaching up to N1,200 per litre.
The root of the issue lies in the unpaid bridging debts owed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to the Independent Petroleum Marketers Association of Nigeria (IPMAN).
These outstanding debts, amounting to approximately N200 billion, have not been settled despite directi...
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