April 21, 2024

Six marketing companies receive approval to import Petrol in July, as FG considers applications from others

 

Oredola Adeola

 

The Nigerian Government has increased the number of marketers granted the approval to import petroleum products into the country from three to six, while applications from other companies are being considered.

 

 

Engr. Farouk Ahmed, the Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) made this statement after a meeting with President Bola Tinubu on Monday.

 

 

EnergyDay had earlier published a statement credited to Engr. Ahmed, stating that three oil marketers will start importing the products in July, even as Nigerian National Petroleum Company Limited (NNPCL) winds down the importation of the products, as the sole importer to 30 percent market share.

 

 

The ACE, therefore confirmed that a total of six companies have been given the license to import, while a number of companies have also applied for the permits.

 

 

He said, “There are several companies that applied for a fuel importation permit. So, you can apply for importation to get access to the port. And by the way, we are open to all those who are interested in importing.

 

“We have guidelines which are not very stringent because we are trying to encourage importation.

 

“There are six companies who said they want to import fuel in July. Of course, all the others may import in December, in November, or anytime but for those who expressed interest to bring in fuel in July there were six of them as of this morning.

 

“The beauty of it is that there are interests which means that they have been able to have access to foreign exchange in order to import.

 

“Now, as we go along, of course, we’ll be briefing you on the progress or the achievements so far, but the important thing is that NNPC has 30 days of fuel sufficiency, so we do not anticipate any gap in supply or in distribution,” the ACE said.

 

Responding to claims that the NNPCL granted approval to Dangote Group to import petroleum products, saying the company has no power to give such a directive.

 

EnergyDay gathered that companies that are lessees producing crude oil or condensate, or holders of crude oil refining licenses are eligible to supply petroleum products.

 

NMDPRA also stated that the criteria for importing kerosene and diesel will be applicable to the importation of fuel.