October 10, 2023 08:19 GMT
NNPC Sole Gasoline Importer in Nigeria at Present
National Nigerian oil company NNPC is again the sole importer of gasoline for the country because other firms are unable to obtain foreign currency.
- It comes 4 months after gasoline imports were opened up to private companies.
- "We are the only company importing PMS [gasoline] into the country," Mele Kyari, chief executive of NNPC said.
- The market was opened up to private gasoline imports as part of reforms by President Bola Tinubu to try and wean the country off fuel subsidies.
- Nigeria as a country is struggling with foreign currency shortages which has resulted in the naira weakening to record lows.