Federal Government Grants Importation Licenses to Three Oil Companies for Petrol Supply in Nigeria

Federal Government Grants Importation Licenses to Three Oil Companies for Petrol Supply in Nigeria

…By Joseph Benjamin for TDPel Media. The Bola Tinubu-led Federal Government has recently authorized three oil companies, namely Eterna Plc, Emadeb Energy Services Limited, and Asharami Energy, to commence petrol importation into Nigeria from the following month.

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This decision was made by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), granting import permits to the selected companies.

First Three Oil Companies Granted Import Licenses:

Among the six oil firms slated to receive import licenses by July, sources have revealed that Eterna Plc, Emadeb Energy Services Limited, and Asharami Energy were the first three companies to be granted permission to import petrol.

Notably, Dangote Refinery, while not included in the initial three, is expected to obtain the importation permit in the near future.

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NNPC’s Transition from Sole Petrol Supplier:

Following the removal of petrol subsidy, the Nigerian National Petroleum Company (NNPC) Limited stated that it would no longer function as the exclusive supplier of petrol in the country.

Previously, NNPC served as the primary supplier, ensuring a consistent distribution of petroleum products.

Enhanced Cooperation and Importation Agreement:

On June 15, the CEO of NMDPRA, Farouk Ahmed, announced that three oil marketers would commence the importation of petroleum products from the upcoming month.

He emphasized that these oil marketers had reached an agreement to enhance cooperation with security agencies, aiming to facilitate seamless supply and distribution of petroleum products.

Expansion of Licensed Importing Companies:

The NMDPRA has confirmed that the number of companies granted permission to import petroleum products into Nigeria has now increased to six.

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These companies have expressed their intention to import fuel as early as July, indicating a growing interest in participating in the importation process.

Conclusion:

Under the Bola Tinubu-led Federal Government, Eterna Plc, Emadeb Energy Services Limited, and Asharami Energy have secured licenses to import petrol into Nigeria, with other companies expected to follow suit.

This decision marks a significant shift in the petrol supply landscape, as the Nigerian National Petroleum Company relinquishes its role as the sole supplier.

The government aims to foster cooperation between oil marketers and security agencies to ensure smooth supply and distribution of petroleum products.

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