Three major oil marketers are expected to import about 141 million litres of Premium Motor Spirit (PMS) to Nigeria this week, following the Federal Government’s full deregulation of the downstream oil sector. The vessels, carrying 105,000 metric tonnes of PMS, are anticipated to arrive in the country soon.
This comes after the Nigerian National Petroleum Company (NNPC) announced increased petrol prices from the Dangote Petroleum Refinery, with prices exceeding N1,000 per litre in certain regions. These imports are part of the response to the deregulated market, allowing for more fuel imports despite regulatory hurdles.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) emphasized that all imported PMS will undergo three major tests before being approved for sale, ensuring that quality standards are met.
