• Privacy Policy
  • Terms
  • About us
  • Contact Us
Friday, July 1, 2022
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Natural Resources

Bridging payments for PMS remain – NMDPRA

The Matters Press by The Matters Press
December 3, 2021
Reading Time: 2 mins read
0
Stable petrol supply excites Buhari

Petrol tankers

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said  it will continue to honour and process claims for bridging of Premium Motor Spirit (PMS) to ensure product availability nationwide.

RELATED POSTS

Nigeria ready to fill gas gap in Europe

Buhari wants boost in Nigeria-Portugal trade

Stock market gains N8.15bn in bullish trading

The Authority Chief Executive of NMDPRA, Mr Farouk Ahmed, said on Thursday in Abuja when delegates from the National Association of Road Transport Owners (NARTO) paid a courtesy call on the Management Team of the Authority.

Ahmed said that the signing of the Petroleum Industry Act (PIA, 2021) which led to the creation of NMDPRA may have raised some uncertainty on the continuation of the bridging scheme; whether or not bridging funds would continue to be paid to beneficiaries.

ALSO READ  Wheat farmers commence bumper harvest in Gombe

He further noted that NARTO as well as other stakeholders should not panic because all verified bridging obligations will be honoured and paid by the Authority.

The National President, NARTO, Alhaji Yusuf Othman, earlier informed the NMDPRA of the outstanding payments being owed its members by the Federal Government.

He expressed concern over the fact that some members were losing interest in the business of transporting PMS, which according to him, was no longer profitable.

To this end, he made an appeal for the upward review of the bridging funds on the pricing template.

He urged Government to put in place policies that will not only address the current dwindling returns on investment but will in addition, stimulate investment in the transportation and logistics of petroleum products in the country.

ALSO READ  IPMAN protests security agencies’ harassment in Anambra

Mr Ogbugo Ukoha, Executive Director, Distributions System, Storage and Retail Infrastructure, NMDPRA, also urged NARTO to continue being patriotic and ensure that it played its part in ensuring PMS availability throughout yuletide period, regardless of its current challenges.

Tags: PMS
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria targets Trans Saharan, Europe gas market
Business

Nigeria ready to fill gas gap in Europe

June 30, 2022
Global trade’ll grow to $30tn by 2030
Economy

Buhari wants boost in Nigeria-Portugal trade

June 30, 2022
Trading in Nigerian stock market dips further N83bn
Business

Stock market gains N8.15bn in bullish trading

June 30, 2022
Nigeria disburses N56bn to MSMEs
Economy

Bank pledges to support MSMEs

June 30, 2022
Group bemoans level of crude oil theft
Economy

Nigeria moves to tackle crude oil theft

June 30, 2022
EU approves 820m Euro for Nigeria’s digital economy
Economy

EU pledges support for Nigeria’s economic integration, diversification

June 30, 2022
Next Post
22 African nations in debt crisis

22 African nations in debt crisis

How Do You Find Love When You're Stuck at Home?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Boko Haram rattles Nigerian troops

Boko Haram rattles Nigerian troops

November 24, 2018
Strike puts Nigeria in darkness

Nigeria commits to efficient power supply industry

April 20, 2022
Nigeria gets petroleum law to edge out 50 years archaic laws

Buhari signs order on national public building maintenance

April 6, 2022

Popular Stories

  • 79 candidates for presidential election

    INEC wants to make you rich, bid for new jobs

    0 shares
    Share 0 Tweet 0
  • Universities approved to operate distance learning centres

    0 shares
    Share 0 Tweet 0
  • Highest score in Common entrance, NECO unveils placement policy

    0 shares
    Share 0 Tweet 0
  • IMF’s reasons for Nigeria’s economic recovery

    0 shares
    Share 0 Tweet 0
  • Missing fighter jet found dead

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Nigeria ready to fill gas gap in Europe
  • Buhari wants boost in Nigeria-Portugal trade
  • Stock market gains N8.15bn in bullish trading

Categories

  • Agriculture
  • Business
  • Economy
  • Entertainment, Religion
  • Features
  • Foreign
  • Health
  • Multimedia
  • Natural Resources
  • News
  • Opinion
  • Photo
  • Politics
  • Security
  • Special News
  • Sports
  • Technology
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Special News
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?