Oil marketers to begin importation of petrol July – NMDPRA

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Three oil marketers that have been issued licenses to import petroleum products into the country are expected to commence operations from July 2023.

This revelation was made by the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA) after its meeting with oil marketing companies to raise awareness of the Petroleum Industry Act (PIA) requirements regarding the full deregulation and importation of petrol.

NMDPRA Chief Executive, Engr. Farouk Ahmed, while addressing the marketers said that three oil marketers will start importing petroleum products from July into the country.

He, however, failed to provide further details on the three lucky companies.

NMDPRA spokesperson, Mr. Kimchi Apollo, while speaking with newsmen, said the details of the companies are not available as of the period of filling this report. He, however, promised to provide the details as soon as possible.

Meanwhile, the Authority Chief Executive (ACE) stated that the authority is committed to ensuring petroleum products standardization to prevent situations where consumers might be cheated through the importation of off-spec products into the country.

He said the Nigerian National Petroleum Company (NNPC) Limited had agreed to reduce its petrol import volume to give room for other players in the industry.

The ACE, therefore, charged any marketer licensed to import petroleum products to comply with set guidelines for the importation of the product.

Ahmed revealed that the oil marketers also agreed to enhance cooperation with security agencies aiming to facilitate the seamless supply and distribution of petroleum products nationwide.

The agency had in a statement issued in May said it was ready to issue licenses to companies interested in importing Petroleum Motor Spirit (PMS) with commitment to dismantle the monopoly enjoyed by the NNPC.

Engr. Ahmed, however, noted that the criteria for importing kerosene and diesel will be applicable to the importation of fuel.