Fuel Subsidy: Nigerian National Petroleum Company, Oil Marketers Fuel Vessels To Arrive Nigeria Next Week
Written by Olarotimi Oshin on July 3, 2023
The major and independent dealers on Sunday has reportedly stated that large consignments of Premium Motor Spirit, popularly called petrol, being imported by major oil marketers, are to hit Nigeria from next week, noting that when the petrol hits the country, it may force down the price of the commodity.
It could be recalled that before the President, Bola Tinubu, removed subsidy on petrol, the product was solely imported by Nigerian National Petroleum Company Limited, as other marketers stopped its imports due to their inability to access the United States dollar.
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.
Speaking with journalists over the weekend, the Executive Secretary, Major Oil Marketers Association of Nigeria, Clement Isong said the imported petrol by oil marketers may arrive in the country by the second and third week of July.
Isong explained that the Nigerian National Petroleum Company Limited had made a lot of fuel imports, as some of its vessels were still on the way to Nigeria.