Revealed: FG set to unveil new petrol price, meets with refinery owners

• The Nigerian government has countered the Dangote Refinery over the dirty fuel importation claims.
• The government, via the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA), said there is no truth to the claims
• The NMDPRA stated that it met with oil marketers and refinery owners regarding pricing and competition in the industry

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.

The Nigerian government has declared that dirty fuel was not imported into the country, as the Dangote Refinery alleged.

The Nigerian Midstream and Downstream Regulatory Authority (NMDPRA), during a meeting with refinery owners in Nigeria in Abuja on Tuesday, discussed issues about refined petroleum products’ pricing, competition, and product imports.

Local refineries meet with FG on pricing of petroleum products Credit:Bloomberg/Contributor
Source: UGC

Local refineries already producing enough fuel

Oil marketers disclosed at the meeting that despite local refineries producing some refined products, it does not stop them from buying from other sources.

The federal government said the claims of dirty fuel import into Nigeria were last reported in February, saying the issue has since been addressed.

The NMDPRA’s executive director of Distribution Systems, Storage, and Retailing, Ogbugo Ukoha, disclosed this to journalists after the meeting with oil marketers and local refiners, Punch reports.

FG discusses pricing and competition

The federal government agency insisted that it adopt all necessary procedures for importing refined petroleum products into Nigeria to stop the inflow of dirty fuel.

He said:

“The NMDPRA today engaged with select marketers who are involved in the importation of AGO (diesel), ATK (aviation fuel), and PMS (petrol), as well as refiners of these products. The singular objective is to continue to collaborate in a manner that guarantees energy security within the country,” he stated.

According to reports, Ukoha said parties at the meeting discussed pricing and competition, saying the agency would continue to engage operators to reach a middle ground.

Dangote raises alarm

The Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, has revealed that the indiscriminate licensing by the Nigerian Midstream Petroleum Regulatory Authority (NMDPRA) to oil marketers is allowing the import of dirty diesel and aviation fuel into Nigeria.

Legit.ng reported that Edwin disclosed this during an interaction with a group of Energy Editors at a one-day training programme organised by the Dangote Group.

NMPDRA allows banned fuel into Nigeria

He said the NMDPRA continues to license marketers to import banned refined petroleum products in other countries into Nigeria.

Edwin said that despite efforts by Dangote to meet ECOWAS standards, NMDPRA grants licenses to marketers to import high-sulfur petrol from Russia into Nigeria.

He disclosed that since the US and UK issued a cap on Russia’s petroleum products, the products are now being dumped in Nigeria’s market.

NDMPRA replies Dangote over dirty fuel claims

Legit.ng previously reported that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is backing oil marketers, denying claims that they are importing substandard and dirty fuel into Nigeria.

The Authority asked Nigerians not to panic over the dirty fuel allegations made by the Dangote Refinery.

The development comes as fuel marketers, under the aegis of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), also denied importing dirty petroleum products into Nigeria.

Source: Legit.ng