FG suspends petrol import licences for second consecutive month

The Federal Government has erstwhile again suspended the issuance of petrol import licences arsenic section refining capableness continues to fulfill Nigeria’s home substance demand.

The improvement was disclosed by the Office of the Special Assistant to the President connected Social Media successful a station connected the X grip of Dada Olusegun, Special Assistant to the President connected Social Media, connected Wednesday.

The connection noted that the suspension has present lasted for 2 consecutive months.

According to the statement, the determination reflects the government’s effort to prioritise locally refined petroleum products and to fortify the country’s refining sector.

“The Federal Government has suspended the issuance of petrol import licences for a 2nd consecutive period arsenic section refining capableness progressively meets home demand,” the bureau said.

According to him, the determination is besides portion of the government’s strategy to instrumentality provisions of the Petroleum Industry Act (PIA), which encourages reliance connected home refining earlier allowing substance imports.

It said, “The determination signals the government’s propulsion to enforce provisions of the Petroleum Industry Act (PIA), which let imports lone erstwhile home refining capableness falls short.”

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