The Nigerian government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has resumed the issuance of petrol import licences to petroleum marketers in a fresh policy move.
Reports indicate that six major marketers were granted licences to import about 720,000 metric tons of Premium Motor Spirit (PMS), popularly known as petrol.
The development signals a notable shift from the recent emphasis on relying mainly on local refining, particularly the Dangote Refinery.
The marketers approved for the imports include NIPCO, AA Rano, Matrix Energy, Shafa Energy, Pinnacle Oil and Gas and Bono Energy.
According to the allocation, NIPCO is expected to import 120,000 metric tons, AA Rano and Matrix Energy 150,000 metric tons each, Shafa and Pinnacle 120,000 metric tons each, while Bono Energy will import 60,000 metric tons.
Although the NMDPRA has not officially explained the reason behind the renewed import approvals, Dangote Refinery has repeatedly maintained that it possesses enough capacity to satisfy Nigeria’s local fuel demand.
Recent industry data released by the regulatory authority reportedly showed that the 650,000 barrels-per-day refinery currently supplies about 90 percent of Nigeria’s daily petrol consumption.
The latest decision by the regulator has, however, generated concerns among industry stakeholders over the future direction of the downstream petroleum sector.
The development comes shortly after President Bola Tinubu appointed Rabiu Abdullahi Umar as the new Chief Executive Officer of the NMDPRA following the removal of the former CEO, Saidu Mohammed.