The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured Nigerians that it has sufficient petroleum products to last through the festive season, aiming to prevent fuel queues.

Speaking at a press briefing at its national headquarters in Abuja, IPMAN National President, Abubakar Shettima, emphasized the need for urgent action from the new leadership of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

He specifically called on the agencies to ensure the immediate payment of long-outstanding bridging claims owed to IPMAN members, which total over N190 billion.

Shettima stressed that the NMDPRA’s new leadership should prioritize settling this debt, warning that delays could hamper the smooth supply of petroleum products in the near future.

In addition, IPMAN expressed its support for efforts to ramp up local production, not only by the Dangote Group but also by other refinery operators.

According to the association, increased local production will reduce the need for members to source foreign exchange, while also enabling Nigerians to benefit from lower fuel prices. (Channels TV)