Business
NMDPRA approves 830,000MT petrol imports for Q4’26
Competition must lower pump prices, IPMAN
Fuel under-dispensing: PETROAN orders nationwide meter checks
By Obas Esiedesa, Abuja
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved the importation of 830,000 metric tonnes of Premium Motor Spirit (PMS), commonly known as petrol, for the fourth quarter of 2026, Q4’26.
The approval, which covers six major petroleum marketers, comes amid increased domestic refining of petrol and expectations of higher demand during the Christmas and end-of-year travel season.
Commenting on the development, the Independent Petroleum Marketers Association of Nigeria (IPMAN) said the import licences should translate into stronger competition and lower pump prices for consumers.
IPMAN’s Public Relations Officer, Chief Chinedu Ukadike, said the NMDPRA was acting within its statutory mandate by issuing the import licences, but noted that the actual benefit to consumers would depend on the ability of the licensed marketers to bring in products at competitive prices.
Speaking in a telephone interview with Vanguard, Ukadike stated: “It’s their statutory obligation. It is their role as watchman of the industry. They are doing their job as NMDPRA”.
He, however, added, “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, that is the challenge”.
According to him, the imports would be beneficial to consumers if the landing cost of the product was lower than 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”.
Sources at the Authority indicated that the six beneficiaries of the latest approval are Matrix Energy, AA Rano, AYM Shafa, NIPCO, Pinnacle Oil and Bono Energy.
The companies have also received import allocations in previous quarters. Their combined allocation stood at 180,000MT in the first quarter and increased to 720,000MT in the second quarter, while the third-quarter allocation was subsequently raised to more than 800,000MT.
The latest approval comes against the backdrop of growing domestic refining capacity, particularly the Dangote Petroleum Refinery, which has continued to increase its supply of petrol to the domestic market.
The issuance of petrol import licences has also been the subject of a legal dispute, with Dangote Refinery challenging the NMDPRA’s decision to grant import licences amid its position that domestic supply is sufficient to meet market requirements.
Meanwhile, NMDPRA data 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.
Meanwhile, the Petroleum Products Retail Outlets Association of Nigeria (PETROAN) has ordered its members nationwide to immediately check their dispensing meters following a warning by NMDPRA over under-dispensing of petroleum products.
PETROAN National President, Billy Gillis-Harry, disclosed this Wednesday during an interview on Channels Television.
He said the association convened an emergency meeting of its National Executive Council on Tuesday after the NMDPRA raised concerns about the accuracy of dispensing meters.
“PETROAN circulated a message around the country, calling our members to check their meters as quickly as possible,” Gillis-Harry said.
According to him, several members had already commenced inspections, noting that prolonged use could cause dispensing equipment to malfunction and either under-dispense or over-dispense fuel.
“Equipment can be faulty over time because of usage,” he said, recalling that he had previously lost money in his own retail business when a faulty meter dispensed more fuel than customers paid for.
Gillis-Harry assured motorists that PETROAN members would ensure they received the quantity of fuel displayed on dispensing pumps.
“But I can tell you that PETROAN members will, at all times, insist on making sure that they sell their products one litre for one litre,” he said.
He urged motorists to monitor the quantity displayed on dispensing meters while buying fuel and insist on collecting receipts for their purchases.
