The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has granted oil marketers in the country the licence to import petrol.
This was made known at a meeting between authorities of NMDPRA and oil marketing companies to raise awareness of the requirements of the Petroleum Industry Act (PIA) regarding the full deregulation and importation of petrol.
As stated in a tweet by the NMDPRA, the Authority Chief Executive, Engr. Farouk Ahmed, “emphasized the urgent need for product standardization to prevent situations where consumers might be cheated by the importation of off-spec products into the country.
products nationwide”.
“He said NNPC Ltd had agreed to reduce its petrol import volume to give room for other players in the industry, therefore any marketer licensed to import petroleum products must comply with set guidelines”.
At the moment, three oil marketers will from July this year start importing petroleum products into the country.
Ahmed further revealed that “the oil marketers also reached an agreement to enhance cooperation with security agencies, to facilitate the seamless supply and distribution of petroleum”.
