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Wednesday, June 19, 2024

NMDPRA clarifies oil import license issuance, fuel importation permits in Nigeria

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has strongly denied recent allegations claiming that the Nigeria National Petroleum Company Limited (NNPCL) lacks the authority to issue oil import licenses. Additionally, the NMDPRA clarified that it did not grant any permit to the Dangote Group for oil importation in July.

During a briefing with State House Correspondents at the Presidential Villa, Engr. Farouk Ahmed, the Chief Executive Officer of NMDPRA, clarified that the authority issued fuel importation permits to six companies specifically for the importation of Premium Motor Spirit (PMS) in July, and the Dangote Group was not among the approved companies.

Ahmed further explained that contrary to some reports, the Nigerian National Petroleum Corporation (NNPC) is not mandated to issue such permits. The notion that NNPC issued fuel importation permits is unfounded.

The NMDPRA CEO clarified that while six companies have been approved for importation in July, there are currently 23 additional applications being processed for subsequent approvals. The increasing number of companies expressing interest in importing PMS is a positive sign, as it will help reduce the burden on NNPC and prevent monopolistic practices, in line with the provisions of the law.

Ahmed assured that NNPC currently has over 30 days’ sufficiency of PMS, with approximately 14 to 15 days’ supply across the country. The NMDPRA has received several applications for fuel importation permits, and they are open to companies interested in importing. The guidelines for obtaining permits are not overly stringent, as the aim is to encourage importation.

He emphasized that six companies have expressed interest in importing fuel in July, while others may import in different months. This interest indicates that these companies have access to foreign exchange and are capable of importing. The NMDPRA will provide updates on the progress and achievements of these importations.

With NNPC’s sufficient fuel supply for 30 days, no disruptions or shortages in supply or distribution are anticipated.

 

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