The Federal Government has resumed the issuance of petrol import licenses to oil marketers through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The fresh approvals were granted to six major petroleum marketing companies that are expected to import about 720,000 metric tons of Premium Motor Spirit (PMS), also known as petrol.
The decision marks a shift from the earlier emphasis on local refining, especially operations at the Dangote Refinery.
Among the companies that received the licenses are NIPCO, AA Rano, Matrix, Shafa, Pinnacle, and Bono.
According to available figures, NIPCO is expected to import 120,000 metric tons of petrol, while AA Rano and Matrix are each expected to bring in 150,000 metric tons. Shafa and Pinnacle are to import 120,000 metric tons each, while Bono received approval for 60,000 metric tons.
The combined allocation stands at 720,000 metric tons.
Although the NMDPRA has not officially explained the reason behind the latest approvals, the development has generated reactions within the oil and gas sector.
The Dangote Refinery had repeatedly stated that it possesses the capacity to satisfy Nigeria’s local fuel demand. Recent industry data released by the NMDPRA showed that the 650,000 barrels-per-day refinery currently supplies about 90 per cent of the country’s daily petrol consumption.
Industry stakeholders have also expressed concern over the renewed approval of fuel imports.
The development comes days after President Bola Ahmed Tinubu appointed Rabiu Abdullahi Umar as the new Chief Executive Officer of the NMDPRA.
Tinubu had earlier removed the former CEO of the authority, Saidu Mohammed, while he was on an official assignment in Germany.
