The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has stated that it is prepared to provide licenses to companies interested in importing gasoline.
Farouk Ahmed, chief executive officer of NMDPRA, told journalists on Tuesday that the requirements for importing kerosene and diesel will apply to the importation of the commodity.
According to Ahmed, a number of conditions must be completed before the applicants are awarded licenses.
“There are a lot of conditions to be met before you are given a licence to import petrol,” he said.
“I cannot give you all the rundown now but I can tell you that just the way marketers import diesel or jet kero, there are conditions for all that and the same condition will apply to those who want to import Premium Motor Spirit (PMS).”
According to section 197 (2) of the Petroleum Industry Act (PIA) 2021, only companies that are lessees producing crude oil and/or condensates or who hold crude oil refining licenses are permitted to offer wholesale petroleum liquids (including petrol importation).
While the PIA authorizes the NMDPRA to grant licenses to refiners or producers of crude oil, the regulation requires the minister of petroleum to approve such licenses in sections 73 (3) and 111 (1).
The Nigerian National Petroleum Company (NNPC) is currently the country’s last-resort supplier, responsible with importing refined petrol to ensure adequate supply and distribution.
The country exports crude oil and swaps it for refined petroleum products under the Direct Sale, Direct Purchase (DSDP) program.