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N58bn payment to marketers in six months highest ever –NMDPRA

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said the N58 billion paid to oil marketers in the last six months is the highest ever paid by any fund administor. Ina a statement by its Corporate Corporations yesterday, the body said it had taken note of concerns raised by some oil marketers over their outstanding bridging claims. According to the NMDPRA, the administration of bridging payment remains a continuous process as hundreds of trucks load and equally discharge products dally, thereby adding to the claims. The statement partly reads: “Since December 2021, the NMDPRA has made several payments to marketers whose claims have been verified. “So far, over 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)

 

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