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NNPC Sole Gasoline Importer in Nigeria at Present

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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.
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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.