The Federal Government has again suspended the issuance of petrol import licences as domestic refining capacity continues to meet Nigeria’s fuel demand.
This was disclosed by the Office of the Special Assistant to the President on Social Media in a post shared on Wednesday through the X account of Dada Olusegun, Special Assistant to the President on Social Media.
According to the statement, the suspension has now remained in place for two consecutive months.
It explained that the decision is part of the government’s effort to prioritise locally refined petroleum products and strengthen the country’s refining sector.
“The Federal Government has suspended the issuance of petrol import licences for a second consecutive month as local refining capacity increasingly meets domestic demand,” the office said.
He added that the move also aligns with the government’s plan to enforce the provisions of the Petroleum Industry Act (PIA), which promotes reliance on domestic refining before allowing the importation of fuel.
It said, “The move signals the government’s push to enforce provisions of the Petroleum Industry Act (PIA), which allow imports only when domestic refining capacity falls short.”
