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FG Approves Fresh Petrol, Diesel Import Permits

The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has approved new import permits for petrol and diesel covering July–September 2026, according to a report by Argus Media.

The approvals were granted to major downstream operators amid concerns over declining fuel stock levels and reduced gasoline output at the Dangote Petroleum Refinery.

Companies including AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy, and Pinnacle Oil received permits to import petrol, while all except Nipco were also cleared to import diesel.

Sources told Argus that AA Rano and Matrix Energy each secured approvals for 180,000 metric tonnes of petrol, AYM Shafa for 120,000 tonnes, and Pinnacle Oil for 150,000 tonnes. For diesel, AYM Shafa obtained 60,000 tonnes, while Pinnacle received 45,000 tonnes.

Regulators said the permits were issued to prevent supply gaps.

“The permits were issued to head off projected shortfalls in supply,” a source explained, noting that final volumes could exceed 800,000 tonnes of petrol.

Data showed Nigeria’s petrol stock sufficiency fell to 16 days in May, while diesel sufficiency dropped to 31 days.

The decline was linked to maintenance at Dangote’s Residual Fluid Catalytic Cracker, which cut gasoline output by 16% to 44.7m litres/day, even as diesel production rose slightly.

International fuel prices also shifted, making imports more attractive. Eurobob oxy swaps averaged $946.25/tonne in June, down from $1,128.50 in May, while offshore Lomé diesel prices fell to $1,093.50/tonne from $1,409.25.

Despite approvals, vessel-tracking data suggested marketers may import only 354,000 tonnes of petrol this quarter, far below the 720,000 tonnes approved earlier, partly due to delays in issuing permits. Dangote Refinery itself is projected to import 257,000 tonnes of gasoline during the quarter.

Culled from The PUNCH