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Tag: Fuel Importation

featured Oil and Gas

FG lifts ban on fuel imports amid supply concerns

The Federal Government has lifted its ban on fuel imports, granting six new licences for the importation of Premium Motor Spirit (petrol), following concerns over supply amid geopolitical tensions in the Middle East. The move marks a sharp reversal of Nigeria’s recent policy aimed at reducing dependence on imported fuel. This comes as the Dangote […]

Finance

Nigeria cuts fuel import spending by 54% — CBN

Nigeria’s spending on the importation of refined petroleum products has declined sharply by 54 per cent over two years, falling from $14.58bn in the first nine months of 2023 to $6.71bn in the corresponding period of 2025, according to figures from the Central Bank of Nigeria’s Balance of Payments report. The data showed that fuel […]

NNPCL reports N2.69trn in tax expenses for 2023
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NNPCL moves to end fuel import Dec 2024

          The Nigerian National Petroleum Company Limited has announced its plan to halt the importation of refined petroleum products by December 2024, coinciding with the full operational status of all national refineries. The company also projected an increase in revenue to N4.5 trillion by the conclusion of 2023. Additionally, the rehabilitation […]

Four consortia to repair deteriorated pipelines - NNPCL
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Private Nigerian firms to begin fuel importation June 2023 – NNPCL

As the Nigerian National Petroleum Company Limited prepares to discontinue crude oil exchange contracts and transition to cash payments for fuel imports, private businesses in Nigeria will have the option to purchase fuel beginning in June 2023. According to Reuters, on June 3, NNPCL’s group chief executive officer, Mele Kyari, made the statement which is consistent […]

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