The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called for the Federal Government’s approval of 830,000 metric tonnes of Premium Motor Spirit (PMS) imports for the fourth quarter of 2026 to result in increased competition and lower petrol prices.
IPMAN’s Public Relations Officer, Chief Chinedu Ukadike, said the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) acted within its statutory mandate by approving the import licences.
He, however, stressed that the licences would only benefit consumers if the approved marketers were able to bring in petrol at prices competitive with products supplied by domestic refineries, particularly the Dangote Petroleum Refinery.
Speaking in a telephone interview with Vanguard, Ukadike distinguished between the issuance of import licences and the actual availability of imported petrol.
“It is their statutory obligation. It is their statutory obligation in their role as watchman of the industry and their statutory performance. They are doing their job as NMDPRA,” he said.
On whether the approval would improve petrol availability and benefit consumers, Ukadike said the key issue was whether the licensed companies could actually bring in the products.
“The issue is availability. Issuing the licence is not availability. It is those that this licence has been issued, the ability to bring in products to compete with the local refinery,” he said.
According to the IPMAN spokesman, imported petrol would provide a meaningful benefit to consumers if it could be landed and sold below the price of locally refined petrol.
“If their product will be cheaper than that of Dangote, it will be a welcome development. But if it’s higher than that of Dangote, I think that it is an exercise in futility,” he said.
The NMDPRA’s latest approval covers 830,000MT of petrol imports for the fourth quarter, ahead of the Christmas period when demand for petroleum products is expected to rise.
According to Petroleumprice.ng, the permits were issued to six major petroleum marketers: Matrix Energy, AA Rano, AYM Shafa, NIPCO, Pinnacle Oil and Bono Energy.
The six companies had previously received import permits under the regulator’s petrol import programme. They were allocated a combined 180,000MT in the first quarter and 720,000MT in the second quarter, while the third-quarter allocation was later increased to more than 800,000MT.
The latest approval comes amid increasing domestic refining capacity, particularly from the Dangote Petroleum Refinery, which has expanded its supply of petrol to the Nigerian market.
The issuance and renewal of petrol import licences has also been subject to a legal dispute, with Dangote Refinery challenging the NMDPRA’s decision to grant import licences in circumstances where it maintains that domestic supply is sufficient.
NMDPRA data recently released showed that domestic refineries supplied about 76.7 per cent of Nigeria’s total petrol supply in the first quarter of 2026, while petrol imports fell by about 60 per cent year-on-year to approximately 965.5 million litres.
