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.