FG suspends petrol import licences as local refineries boost local supply

[Little Princess]

Exactly. Securing the upstream—stopping crude theft—is just as important as boosting local refining. Once both are in place, Nigeria can really start enjoying the full benefits of its oil wealth.

You are right

 

[Vicole]

You are right

Thanks

 

[bonnyway101]

The Federal Government has suspended the issuance of petrol import licences for a second consecutive month as local refining capacity increasingly meets domestic demand.
The development follows data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), showing that most petrol supplied in Nigeria in February came from local refineries.
The move signals the government’s push to enforce provisions of the Petroleum Industry Act (PIA), which allow imports only when domestic refining capacity falls short.
The decision is also seen as a boost for local refiners, particularly Dangote Refinery, which had previously challenged petrol import licences issued by the regulator.
#copied

I don't think this is a good news.. simply because we have only one refinery working at the moment in the country

 

[Vicole]

I don't think this is a good news.. simply because we have only one refinery working at the moment in the country

Valid concern. Relying on just one major refinery still leaves us exposed, any disruption can affect supply and prices. Until more refineries come fully on stream, the system isn’t truly stable yet.

 

[Benjamin E Housel]

This move is a big vote of confidence for local refineries. By leaning on domestic supply, the government is not only following the Petroleum Industry Act but also giving companies like Dangote Refinery a chance to strengthen their role in the market. Over time, this could reduce reliance on imports and help stabilize fuel prices in Nigeria.

Absolutely

 

[Benjamin E Housel]

I don't think this is a good news.. simply because we have only one refinery working at the moment in the country

Hmmm... a good point here. I get where you're driving at.

 

[Benjamin E Housel]

Valid concern. Relying on just one major refinery still leaves us exposed, any disruption can affect supply and prices. Until more refineries come fully on stream, the system isn’t truly stable yet.

Exactly, @bonnyway101's point.

 

[EazzyStock]

That's a nice one

 

[Little Princess]

I don't think this is a good news.. simply because we have only one refinery working at the moment in the country

Hmmmmm I get your point

 

[Little Princess]

Valid concern. Relying on just one major refinery still leaves us exposed, any disruption can affect supply and prices. Until more refineries come fully on stream, the system isn’t truly stable yet.

Absolutely

 

[Blessed Amara]

Being able to meet demand is where the issue is.

Na the koko

 

[Vicole]

Na the koko

Lol