NNPCL now the sole importer and supplier of Petrol nationwide..

    The combination of limited access to foreign exchange (forex) and price control measures has led independent petroleum marketers to abandon their initial endeavors to import gasoline. Consequently, the Nigerian National Petroleum Company Limited (NNPCL) has once again become the sole importer and supplier of gasoline nationwide, as these marketers are unable to source and distribute gasoline independently without relying on the national oil company.

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    Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) expressed their dissatisfaction with the current forex situation and the structural pricing imbalances, which have hindered their full involvement in the downstream oil sector. This situation contradicts the concept of full deregulation.

    Abubakar Maigandi, the National Vice President of IPMAN, highlighted that marketers have ceased their involvement in petrol importation due to the challenges of securing foreign exchange through banks. Maigandi stated, “I cannot confirm reports of major marketers experiencing shortages of gasoline in their depots. However, what I can attest to is the decrease in the rate of loading, which has reduced significantly. NNPCL has also reduced the allocation it provides to marketers. Presently, only NNPCL is able to import and distribute PMS (Premium Motor Spirit), as other marketers face difficulties procuring PMS due to price constraints and limited access to foreign exchange.”

    In essence, the limited availability of forex and government-mandated pricing controls have led independent marketers to step back from petrol importation, leaving the NNPCL as the primary source of petrol distribution in the country.

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