The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), says the country’s domestic consumption of petrol has significantly dropped from 66.7 million litres, before the deregulation, to 44.3 million litres per day.
Mr Farouk Ahmed, the Chief Executive of NMDPRA, says the reduction represents about 33.58 percent daily.
While delivering his keynote address at the opening session of the Oil Trading and Logistics (OTL) 2023 Africa Week 2023 yesterday in Lagos, the NMDPRA boss said eight wholesale petroleum product suppliers out of 94 licensed oil marketers were issued permits to import into the country.
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According to him, the licensed suppliers delivered eight cargoes of petrol totalling 251,000 MT (291.23m litres) between June and September.
According to him, the drop in the number of licensed importers was due to the challenge of forex illiquidity which had constrained the oil marketing companies’ ability to import the product.
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