141 Million Litres Of Petrol Set For Import By Three Major Marketers

141 Million Litres Of Petrol Set For Import By Three Major Marketers

Three major oil marketers are expecting shipments of Premium Motor Spirit (PMS), commonly known as petrol, this week, barring any unforeseen delays. It was revealed on Tuesday that these shipments, totaling approximately 141 million litres, are being transported to Nigeria, following the Federal Government’s full deregulation of the downstream oil sector…….CONTINUE READING 

Industry sources explained that the recent increase in petrol prices from the Dangote Petroleum Refinery, distributed by the Nigerian National Petroleum Company Limited (NNPC), created opportunities for the importation of PMS. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed that all imported PMS will undergo three rigorous tests before being allowed for sale across Nigeria.

On Monday, NNPC announced the sale price of petrol from the Dangote refinery, which could reach as high as N1,019 per litre in Borno State, and N999.22 per litre in Abuja, Kano, and Sokoto. In Oyo and Rivers States, the price will be around N960 per litre, while the lowest price is set at N950 per litre in Lagos.

A major marketer, speaking on condition of anonymity, confirmed the upcoming imports, stating that each vessel will carry about 35,000 metric tonnes of PMS. This translates to approximately 141 million litres in total, based on the standard conversion rate. The marketer also highlighted that the process involves multiple shipments over time, with regulatory bodies like NMDPRA ensuring that quality standards are met before the products are released into the market.

NMDPRA spokesperson George Ene-Ita emphasized that imported PMS must pass through strict testing protocols at various stages, both at the port and before entering the local market, to ensure compliance with required specifications.