Taiwo POPOOLA
In a new policy shift, the Nigerian government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, resumed issuance of petrol import licenses to petroleum marketers.
The licenses were issued to six petroleum marketers expected to import around 720,000 metric tons of Premium Motor Spirit (petrol).
Urban Express News reports that the move represents a policy shift away from a focus on local refineries, specifically the Dangote Refinery.
Beneficiaries are major oil marketers such as NIPCO, AA Rano, Matrix, Shafa, Pinnacle, and Bono.
NIPCO is expected to import 120,000 metric tons; AA Rano, 150,000 MT; Matrix, 150,000 MT; Shafa, 120,000 MT; Pinnacle, 120,000 MT; and Bono, 60,000 MT, totalling 720,000 MT of petrol imports.
Although the NMDPRA officially stated the reason for the fresh licenses, Dangote Refinery has reiterated its capacity to meet local fuel consumption demand. In fact, NMDPRA’s recent industrial data showed that the 650,000-barrel-per-day refinery supplied 90 percent of the country’s daily consumption.
Meanwhile, NMDPRA’s recent decision on petrol imports has stirred concerns among stakeholders.The development comes barely a week after President Bola Ahmed Tinubu appointed Rabiu Abdullahi Umar as Chief Executive Officer of NMDPRA.
