FG Issues Licenses for 720,000MT Petrol Imports

The Nigerian government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has issued import licenses for 720,000 metric tons of petrol to six companies: Nipco (120,000 MT), AA Rano (150,000 MT), Matrix (150,000 MT), Shafa (120,000 MT), Pinnacle (120,000 MT), and Bono (60,000 MT). This decision comes amid claims that the Dangote refinery, expected to supply 90% of Nigeria's daily petrol consumption, will commence operations in the first quarter of 2026.

NMDPRA officials, speaking anonymously, confirmed the issuance of these licenses despite earlier assertions that there was no need for petrol imports due to sufficient local refining capacity. Sa'idu Mohammed, the chief executive of NMDPRA, reiterated the agency's commitment to energy security and the importance of balancing imports with local refining to ensure stable supply.

Aliko Dangote, president of Dangote Group, disagreed with the necessity of these import licenses, indicating that the company is considering exporting its refined products.