The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has put on hold its planned strike after ongoing discussions over the N100 billion bridging claim. The association has urged all stakeholders to engage in constructive dialogue to resolve the matter without disrupting operations in the downstream petroleum sector.
A spokesperson for PETROAN stated that negotiations and good-faith discussions were necessary to find a solution. “The association urges all parties to engage in constructive engagement and good-faith negotiations to resolve the issue. Through dialogue, we believe that all parties can identify mutually beneficial solutions; build trust and strengthen relationships; avoid costly and damaging shutdowns; ensure the continued stability and growth of the downstream petroleum sector,” he said.
The association also noted President Bola Tinubu’s efforts in reforming the petroleum sector, acknowledging that his administration has been working towards increasing transparency, accountability, and economic growth. PETROAN urged stakeholders to support these reforms instead of actions that could destabilize the sector.
Additionally, the association called on relevant authorities to facilitate the swift payment of the outstanding bridging claims owed to its members. PETROAN believes that settling these payments will reduce the financial strain on its members and allow for the continued smooth operation of petroleum supply and distribution.
The association’s National President, Dr. Billy Gillis-Harry, reaffirmed PETROAN’s commitment to ensuring the stability and growth of the downstream sector. He stressed the importance of cooperation, innovation, and open dialogue in resolving industry challenges. “Under the leadership of our National President, Dr Billy Gillis-Harry, PETROAN remains committed to promoting the stability and growth of the downstream petroleum sector through dialogue, cooperation, and innovative solutions. We urge our members to remain calm and law-abiding while we engage with NMDPRA and other stakeholders to find a lasting solution to the issue,” said PETROAN’s spokesperson, Obele.
