Business & Finance

Nigerian Government Grants Approval to Six Companies for Fuel Importation, Easing Subsidy Removal

Affordable Data Plans for MTN, Airtel, Glo, and 9mobile at allmedia24data.com
Nigerian Government Grants Approval to Six Companies for Fuel Importation, Easing Subsidy Removal

The Federal Government of Nigeria has recently announced the approval of six new companies to engage in petroleum product importation, as part of its efforts to ease the removal of fuel subsidies. The approval was disclosed by Farouk Ahmed, the Managing Director of the Nigeria Mainstream and Downstream Petroleum Regulatory Authority (NMDRA), during a press briefing held at the Presidential Villa.

Ahmed emphasized that apart from the six approved companies, there were several other entities that had applied for permits to import petroleum products, indicating a significant level of interest in the fuel importation sector. He clarified that the Nigerian National Petroleum Company Limited (NNPCL) does not possess the authority to grant approval for importing petroleum products, addressing speculation surrounding the Dangote Group’s alleged approval.

Buy Cheapest Data Price
Our Data Prices on JMDATA:
- MTN SME 1: N255 per 1GB
- MTN Corporate: N259 per 1GB
- Airtel CG: N278 per 1GB
- Glo CG: N230 per 1GB
- 9mobile: N125 per 1GB
Download Our Mobile APP to get started: https://play.google.com/store/apps/details?id=com.encrypted.jmdata

The NMDRA Managing Director further emphasized that the authority is open to all interested parties wishing to import fuel, and anyone meeting the necessary requirements can apply for importation and gain access to the port facilities. He revealed that the six approved companies expressed their intent to commence fuel importation in July, and there were indications that more companies might follow suit in subsequent months.

Ahmed expressed confidence in the fuel supply chain, assuring the public that the Nigerian National Petroleum Corporation (NNPC) has a 30-day sufficiency of fuel and anticipates no disruptions or shortages in supply or distribution. This development comes as the government seeks to facilitate the transition away from fuel subsidies, ensuring a smooth and sustainable fuel importation process.

READ ALSO: NPC Announces Birth Registration Adhoc E-Recruitment

In a related development, President Bola Tinubu has taken proactive measures to prevent ship owners from withdrawing their vessels due to excessive back charges. Zacchaeus Adedeji, the Special Adviser to the President on Revenue, led a government delegation in an interactive session with shipping stakeholders at the State House to address the issue. Adedeji emphasized the importance of maintaining a continuous flow of vessels in and out of the country and allayed concerns within the oil and gas sector.

According to reports, some ship owners had refrained from bringing their vessels to Nigeria after receiving multimillion-dollar tax bills related to unpaid duties from 2010 to 2019. To resolve the matter and ensure a smooth flow of maritime activities, a technical committee has been established to reconcile the back taxes and address the concerns of ship owners. Adedeji assured stakeholders that no vessel would be arrested or detained during this process, providing further reassurance for the uninterrupted supply of petroleum products.

The government’s approval of additional companies for fuel importation and its proactive measures to address vessel withdrawal concerns demonstrate its commitment to ensuring a stable and efficient petroleum sector. These developments mark significant progress toward the removal of fuel subsidies, as Nigeria continues to implement reforms aimed at bolstering its energy industry and fostering sustainable economic growth.

Source: Channelstv.com

President Tinubu Implements Major Security Overhaul, Appoints Nuhu Ribadu As National Security Adviser

Google News Channel

Follow us on Google News for Latest Headlines


Join Our WhatsApp, Facebook, or Telegram Group For More News, Click This Link Below;

WhatsApp Channel

https://whatsapp.com/channel/0029VaELqhlHVvTXjDnUf80h


WhatsApp Group

https://chat.whatsapp.com/C6C3F5tXtKE8SUuJUO78KA


Facebook Page

https://facebook.com/allmedia24news


Our Twitter Page

https://www.twitter.com/allmedia24news
Telegram Group

https://t.me/allmedia24

Threads App Official Page

https://www.threads.net/@allmedia24news

Allmedia24 Whatsapp Group

RECEIVE NEWS FROM EMAIL

One Comment

  1. Pingback: Latest News On NNPC New Fuel Price At Ex-Depot For Today Wednesday 21 June, 2023 - Allmedia24 News

Leave a Comment

Your email address will not be published. Required fields are marked *

*