FG Licences Three Oil Marketers To Commence Petrol Importation

Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), on Wednesday, said three oil marketers will start importing petroleum products from next month (July).

Gatekeepers News reports that the Chief Executive Officer (CEO) of NMDPRA, Farouk Ahmed disclosed this during a meeting with oil marketers.

According to a statement on the authority’s official Twitter handle, the meeting was held to raise awareness of the requirements of the Petroleum Industry Act (PIA) regarding the full deregulation and importation of petrol.

Ahmed, while speaking during the event, emphasised the urgent need for product standardisation to prevent situations where consumers might be cheated by 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, “therefore any marketer licenced to import petroleum products must comply with set guidelines”.

“Already, three oil marketers will from July this year start importing petroleum products into the country,” he said.

Ahmed added that the oil marketers also reached an agreement to enhance cooperation with security agencies, with the aim of facilitating the seamless supply and distribution of petroleum.