Politics
Major Marketers Set To Import 141 Million Litres Of Petrol
Major Marketers Set To Import 141 Million Litres Of Petrol
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Three major oil marketers in Nigeria are set to receive shipments of petrol this week, despite the availability of locally refined fuel from the Dangote refinery.
According to Punch, around 141 million litres of petrol are being imported into Nigeria by these marketers, following the Federal Government’s full deregulation of the downstream oil sector.
The recent increase in petrol prices set by the Nigerian National Petroleum Company Limited (NNPCL) has created an opportunity for these imports. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has stated that all imported petrol will undergo multiple tests before being distributed.
On September 16, 2024, NNPC announced new petrol prices, with rates exceeding N1,000 per litre in the north and a minimum of N950 in Lagos. One marketer confirmed that the deregulation is fully underway, with each vessel bringing approximately 35,000 metric tonnes of petrol.
The marketer explained that the imports will be staggered due to storage constraints, and regulators will assess the quality and safety of the petrol before it can be sold.
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