FG Slashes Import Licenses To Oil Marketers From 43 To 29

The Federal Government has issued licenses to
import refined petroleum products to 29 major oil
marketers in a bid to end the fuel scarcity being
witnessed across the country.
The third quarter approval for import allocations
to the 29 marketers signalled a significant
reduction in the number of marketers previously
issued with such allocations.
Previously, 43 marketers were given import
allocation but the significant reduction is seen as
a way of blocking revenue leakages in the oil and
gas sector as promised by President Muhammadu
Buhari.
The 29 marketers include the Nigerian National
Petroleum Corporation (NNPC) which in the last
couple of months struggled to sustain supply.
It was gathered that the approval was given by
President Muhammadu Buhari to the Petroleum
Products Pricing and Regulatory Agency (PPPRA)
to allow the NNPC and other oil marketers to
import fuel into the country this quarter.
The third quarter import allocation is thought to
be around 1.6 million metric tonnes of petrol, a
source in PPPRA disclosed.
Beside the NNPC, some of the marketers issued
licences are NIPCO Plc, Oando Plc, Conoil, Mobil
Oil, Masters Energy, Techno Oil and Folawiyo Oil
and Gas, Total Nigeria Plc and Mobil Oil Plc.
Although the PPPRA was yet to issue an official
statement on the third quarter import allocation,
another source in PPPRA said the agency now
expects major oil marketers to resume
importation of petrol after extracting a promise
from the government that outstanding claims on
subsidies will be paid.
An industry source who pleaded anonymity
confirmed the allocation to news reporters in a
telephone conversation.
”We got our allocation letters on Friday and I’m
sure there are 29 of us as against the previous 43
marketers issued licenses to import,” he said.
It will be recalled that the current Senate
President, as a first term Senator in 2011, raised
a motion on the need for transparency and
accountability in the fuel subsidy scheme which
unravelled what has been termed as one of the
biggest fraud in the nation's history.
The motion by Saraki then prompted PPPRA to
prune down the number of participating
companies from 128 before the exposure to 42
and now to 29 by Buhari.
A quick survey of Nigerians have shown that 90
per cent are confident that with Buhari as
President and Saraki as Senate President justice
will be done to the issue of fuel subsidy.