The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it is ready to issue licences to companies interested in petrol importation.
Speaking to journalists on Tuesday, Farouk Ahmed, chief executive officer of NMDPRA, said the criteria for importing kerosene and diesel will be applicable for the importation of the product.
However, Ahmed said several conditions have to be met before the applicants are granted licences.
“There are a lot of conditions to be met before you are given a licence to import petrol,” he said.
“I cannot give you all the rundown now but I can tell you that just the way marketers import diesel or jet kero, there are conditions for all that and the same condition will apply to those who want to import premium motor spirit (PMS).”
Only companies that are lessees producing crude oil and/or condensates or who are holders of crude oil refining licences are eligible to supply wholesale petroleum liquids (including petrol importation), according to section 197 (2) of the Petroleum Industry Act (PIA) 2021.
While the PIA empowers the NMDPRA to issue licences to refiners or producers of crude oil, the regulation, in sections 73 (3) and 111 (1), provides that the minister of petroleum must approve such licences.
Currently, the Nigerian National Petroleum Company (NNPC) is the last-resort supplier, tasked with importing refined petrol to ensure adequate supply and distribution in the country.
Through the direct sale, direct purchase (DSDP) scheme, the country exports crude oil and exchanges it for refined petroleum products.
Source: Top Stories
