%20of%20Nigeria%20said%20in%20Abuja,%20on%20Tuesday,%2019th%20May,%20that%20permits%20had%20been%20issued%20to%20several%20private%20marketers%20for%20the%20importation%20of%20petrol%20alongside%20The%20strongNigerian%20National%20Petroleum%20Corporation/strong%20(NNPC).In%20a%20statement%20by%20the%20General%20Manager,%20Corporate%20Services,%20PPRA,%20Kimchi%20Apollo,%20he%20said%20that%20the%20sole%20importer%20status%20of%20the%20NNPC%20for%20oil%20into%20the%20country%20had%20changed,%20and%20his%20agency%20had%20granted%20permission%20to%20various%20oil%20dealers%20to%20import.Being%20the%20corporation%20through%20which%20the%20Federal%20Government%20regulates%20and%20participates%20in%20the%20country's%20petroleum%20industry,%20the%20NNPC%20used%20to%20be%20the%20country's%20sole%20importer%20of%20petrol%20for%20more%20than%20two%20years.%20Earlier%20in%20March%20this%20year,%20the%20downstream%20sector%20of%20the%20country's%20value%20chain%20was%20liberalized%20so%20marketers%20could%20also%20buy%20refined%20petroleum%20products%20from%20international%20refineries.It%20is%20also%20a%20href=https://www.von.gov.ng/pppra-clears-marketers-to-import-petrol/reported/a%20that%20marketers%20do%20not%20have%20the%20power%20to%20determine%20the%20price%20of%20petrol%20yet,%20as%20that%20remains%20the%20work%20of%20the%20agency.%20Kimchi%20Apollo%20stated%20that%20the%20agency%20was%20liaising%20with%20the%20Central%20Bank%20of%20Nigeria%20to%20ensure%20that%20marketers%20had%20as%20much%20access%20to%20forex%20as%20they%20deserved.%20“Also,%20the%20PPPRA%20is%20doing%20its%20best%20to%20liaise%20with%20the%20CBN%20to%20ensure%20that%20marketers%20are%20not%20discriminated%20against.%20They%20too%20should%20have%20access%20to%20forex%20as%20much%20as%20the%20NNPC.%20So%20they%20should%20have%20a%20level%20playing%20ground.”He%20also%20noted%20that%20there%20were%20laid%20down%20procedures%20to%20be%20followed%20by%20marketers.%20“Both%20major%20marketers%20and%20others%20who%20have%20the%20competence%20to%20bring%20in%20products%20have%20been%20given%20QMs%20to%20do%20so.%20However,%20there%20are%20yardsticks%20that%20should%20be%20met%20before%20any%20marketer%20can%20bring%20in%20products.”It%20has%20always%20been%20predicted%20by%20experts%20that%20for%20the%20betterment%20of%20the%20oil%20and%20gas%20sector,%20there%20is%20a%20need%20for%20a%20collaboration%20between%20the%20public%20and%20private%20sector%20and%20adequate%20monitoring,%20and%20regulation%20by%20a%20government%20body%20to%20ensure%20transparency.%20This%20is%20a%20laudable%20move%20by%20the%20government%20of%20Nigeria%20and%20it%20is%20hoped%20that%20other%20refined%20oil-importing%20countries%20in%20the%20continent%20will%20follow%20suit.){kind=link}
The Petroleum Pricing Regulatory Agency (PPPRA) of Nigeria said in Abuja, on Tuesday, 19th May, that permits had been issued to several private marketers for the importation of petrol alongside The Nigerian National Petroleum Corporation (NNPC).
In a statement by the General Manager, Corporate Services, PPRA, Kimchi Apollo, he said that the sole importer status of the NNPC for oil into the country had changed, and his agency had granted permission to various oil dealers to import.
Being the corporation through which the Federal Government regulates and participates in the country’s petroleum industry, the NNPC used to be the country’s sole importer of petrol for more than two years. Earlier in March this year, the downstream sector of the country’s value chain was liberalized so marketers could also buy refined petroleum products from international refineries.
It is also reported that marketers do not have the power to determine the price of petrol yet, as that remains the work of the agency. Kimchi Apollo stated that the agency was liaising with the Central Bank of Nigeria to ensure that marketers had as much access to forex as they deserved. “Also, the PPPRA is doing its best to liaise with the CBN to ensure that marketers are not discriminated against. They too should have access to forex as much as the NNPC. So they should have a level playing ground.”
He also noted that there were laid down procedures to be followed by marketers. “Both major marketers and others who have the competence to bring in products have been given QMs to do so. However, there are yardsticks that should be met before any marketer can bring in products.”
It has always been predicted by experts that for the betterment of the oil and gas sector, there is a need for a collaboration between the public and private sector and adequate monitoring, and regulation by a government body to ensure transparency. This is a laudable move by the government of Nigeria and it is hoped that other refined oil-importing countries in the continent will follow suit.