Three major oil marketers are set to receive vessels carrying 141 million litres of imported Premium Motor Spirit (PMS), commonly known as petrol, this week, following the full deregulation of Nigeria’s downstream oil sector.
The Nigerian National Petroleum Company Limited (NNPC) recently announced a hike in pump prices for petrol produced by the Dangote Petroleum Refinery, ranging from N950 to N1,019 per litre, depending on the region.
The deregulation has created room for PMS imports, with three dealers expecting their products this week. Each vessel is expected to bring in about 35,000 metric tonnes of PMS, totalling 105,000 metric tonnes.
However, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has emphasized that all imported PMS must undergo three major tests before being allowed for sale across the country.
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