Di Independent Petroleum Marketers Association of Nigeria, IPMAN, don talk say di Federal Government approval of 830,000 metric tonnes of Premium Motor Spirit, PMS, imports for di fourth quarter of 2026 must translate into stronger competition and lower petrol prices for consumers.
IPMAN Public Relations Officer, Chief Chinedu Ukadike, yarn say di Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, act within im statutory mandate wen e issue di import licences.
But e talk say di impact of di imports go depend on weda di marketers wey get approval go fit bring in products wey go compete wit petrol wey domestic refineries dey supply, especially di Dangote Petroleum Refinery.
Ukadike tell Vanguard for telephone interview say issuing import licence no be same thing as actual availability of di product. ‘It is their statutory obligation. It is their statutory obligation in their role as watchman of the industry and their statutory performance. They are doing their job as NMDPRA,’ e talk.
On wetin di imports go mean for consumers and petrol availability, e talk say: ‘The issue is availability. Issuing the licence is not availability. It is those that this licence has been issued, the ability to bring in products to compete with the local refinery.’
Ukadike talk say di imports go benefit consumers if dem land di products and sell am at prices wey below locally refined petrol. ‘If their product will be cheaper than that of Dangote, it will be a welcome development. But if it’s higher than that of Dangote, I think that it is an exercise in futility,’ e talk.
NMDPRA latest approval cover importation of 830,000MT of petrol for fourth quarter, ahead of Christmas period wen demand for petroleum products dey expected to increase.
According to Petroleumprice.ng, di permits go to six major petroleum marketers — Matrix Energy, AA Rano, AYM Shafa, NIPCO, Pinnacle Oil and Bono Energy.
Di six companies also benefit from di regulator petrol import programme earlier for di year. For first quarter, di companies receive combined 180,000MT in import permits, while allocation rise to 720,000MT for second quarter. Third-quarter allocation later increase to more than 800,000MT.
Di latest approval come amid rising domestic refining capacity, particularly from Dangote Petroleum Refinery, wey don increase im supply of petrol to Nigerian market.
Di continued issuance and renewal of petrol import licences also be subject of legal dispute, as Dangote Refinery dey challenge NMDPRA decision to grant import licences in circumstances wey di refinery argue say domestic supply sufficient.
Data wey NMDPRA release recently show say domestic refineries supply about 76.7 per cent of Nigeria total petrol supply for first quarter of 2026, while petrol imports decline by about 60 per cent year-on-year to approximately 965.5 million litres.
