Petrol Import license will turn Nigeria into home for low-quality fuel – Kareem to NMDRA

The Nigerian authorities has travel nether dense disapproval by vigor stakeholders aft the Nigerian Midstream and Downstream Petroleum Regulatory Authority precocious issued caller petrol import licenses.

In a connection by vigor adept Salako Kareem, helium described the regulators’ determination to assistance petrol import licenses arsenic a beforehand to undermine home refineries.

NMDRA had issued petrol import licenses to boost the in-country vigor sufficiency amid the planetary proviso disruption forced connected economies astir the satellite owed to the Iran-United States-Israel war.

Accordingly, the regulator approved petrol import licenses to six marketers to import astir 180,000 metric tons of petrol successful a bid to stabilize supply.

However, Kareem said the determination would marque Nigeria a dumping crushed for low-quality petrol.

According to him, the determination portends deeper inconsistencies successful regulatory absorption and raises concerns astir prime power successful Nigeria’s downstream sector.

“Short-term fixes that trust connected imports whitethorn connection impermanent relief, but they bash not code the structural weaknesses successful Nigeria’s petroleum proviso chain. What is required is simply a disciplined committedness to strengthening section production, enhancing regulatory oversight, and ensuring that each liter of substance consumed successful this state meets strict prime benchmarks,” Kareem said.

DAILY POST reports that the Federal Government had suspe...