- Oil marketers have decided to import petrol from abroad, a move aimed at addressing the current prices of petrol
- The marketers believe this decision aligns with full deregulation as outlined in the Petroleum Industry Act
- Under the deregulation regime, marketers are allowed the freedom to competitively source fuel from any supplier, both locally and internationally
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has hinted at plans to import more petrol from abroad.
The decision is in line with the full deregulation of the downstream oil sector as outlined in the Petroleum Industry Act (PIA).
The IPMAN decision comes amid an ongoing price tussle and negotiation with Dangote refinery on petrol lifting pricing.
Legit.ng reported that marketers claimed the NNPCL is …