Friday, December 4, 2020

FG to support marketers on petrol import



The Federal Government is to make the dollar accessible to oil marketers in order to make the importation of petrol into Nigeria competitive and help reduce the commodity’s rising cost.

It was learnt that oil marketers met with officials of the Federal Ministry of Finance on the need to make foreign exchange available for petrol imports.

This according to marketers would halt the current monopoly in the importation of petrol as the Nigerian National Petroleum Corporation has been the major importer of petrol for more than two years.

Other players in the downstream oil business purchase the product from NNPC to dispense in their retail outlets.

The National President, Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo saud petroleum product dealers would start importing petrol soon.

He said this was based on the meeting which oil marketers had with the government last week.