NNPC may emerge sole importer of petroleum products

There are indications that major and independent marketers may be excluded from petroleum products import in the second quarter, The Guardian reports.

This is  allegedly due to the failure of the marketers to deliver the 22 percent allocation granted to them which is causing the current scarcity of petrol in the country. Consequently, the Petroleum Products Pricing Regulatory Agency (PPPRA) may allocate 100 percent of petroleum products import to the Nigerian National Petroleum Corporation (NNPC) in the second quarter.

It was gathered that the PPPRA is expected to release the list for the second quarter import as well as review the N86.50 per litre of petrol as prescribed by the price modulation regime. Even within the NNPC itself, the relocation of petrol importation from commercial to Crude Oil Marketing Department (COMD) has further exacerbated the importation bottlenecks.

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