Subsidy Removal: NMDPRA grants licence to Oil Marketers Importing Petrol

Oil marketers have reportedly started importing Premium Motor Spirit (petrol), according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Following President Bola Tinubu’s May 29 inauguration speech, in which he announced that “fuel subsidy is gone,” this has happened for seven complete weeks.
The Nigerian National Petroleum Company (NNPC) Limited’s monopoly has ended as a result of this most recent event.
The announcement was revealed on Monday in Lagos at a stakeholder engagement by Farouk Ahmed, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, or NMDPRA.
The CEO said that of the 56 oil marketing businesses that filed for and were granted licences, 10 claimed they would be able to import in the third quarter of 2023 and three had “landed cargo.”
A.Y. Ashafa, Prudent Energy, and Emadeb are the three firms Ahmed cited as presently importing the commodity.
He also mentioned that other companies will import between August and September.

Source: Allnews Nigeria

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