PPPRA clears marketers to import petrol

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PRIVATE oil marketers have now joined forces with the Nigerian National Petroleum Corporation in the importation of petrol.

On Tuesday in Abuja,  it was confirmed from the Petroleum Products Pricing Regulatory Agency who issued permits, that they had given several marketers the opportunity to start importing petrol alongside the NNPC.

Before the descending oil sector was liberalised in March this year, the NNPC used to be the sole importer of petrol, a task it handled independently for more than two years.

Speaking on Tuesday, the General Manager, Corporate Services, PPPRA, Kimchi Apollo, said the exclusive petrol importer rights of the NNPC had changed, as his agency recently gave various oil dealers permission to import.

He said, “Well, as far as I am concerned, many of them (marketers) have gone to import because they took QMs from us to bring in products and I am sure they are doing that already.

“The QM is just like a pass to go and bring in products. You come to us to say you want to bring in products and then we say go ahead based on the pass that we give.”

Apollo added, “So, some marketers came and they got the go-ahead permit to bring in products. So, they will be bringing in products.”

He explained that the market has become less restrictive, with both the NNPC and other marketers now shopping for refined petroleum products from international refiners.

“The market now is such that both the NNPC and other marketers are on the same level of going to buy from the international market to sell to final consumers,” the GM stated.

He said all qualified marketers who approached the agency and had the capacity to import petrol were cleared for such operations.

Apollo also noted that the agency had been working with the Central Bank of Nigeria to make foreign exchange available to marketers for petrol imports.

He said, “Both major marketers and others who have the competence to bring in products have been given QMs to do so. However, there are yardsticks that should be met before any marketer can bring in products.

Source: https://punchng.com/pppra-clears-marketers-to-import-petrol/

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