04/07/2023
NNPCL, Marketers Fuel Vessels to Arrive Nigeria Next Week
Large consignments of Premium Motor Spirit, popularly called petrol, being imported by major oil marketers, are to hit Nigeria from next week and may force down the price of the commodity, both major and independent dealers stated.
It was also gathered that crude oil refiners were currently releasing refined petroleum products on credit to dealers from Nigeria, following the recent unification of the country’s exchange, which boosted the confidence of operators.
This came as the Independent Petroleum Marketers Association of Nigeria told our correspondent that they would compete with the Major Oil Marketers Association of Nigeria and the Nigerian National Petroleum Company Limited on the importation of petrol, stressing that this would crash the cost of PMS.
Before the President, Bola Tinubu, removed subsidy on petrol, the product was solely imported by NNPCL, as other marketers stopped its imports due to their inability to access the United States dollar.
At the time, oil marketers explained that the NNPCL was accessing the dollar at a lower rate, which was unfair and did not support PMS importation by other dealers.
But with the recent unification of the exchange rate, oil marketers had to join in the importation of petrol and confirmed that the products should be arriving Nigeria from next week.
