Scrap Fuel Import Licences, IPMAN Tells FG as Petrol Prices Spike

This report covers scrap fuel import licences, with key details and context.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Federal Government to urgently review and, where necessary, withdraw the recently approved fuel import licences issued to some petroleum products marketers.

IPMAN argues that the approvals are contributing to rising fuel prices and foreign exchange pressure. The association warned that multiple import licences could destabilise the market and hurt consumers.

In a statement, IPMAN praised Dangote Refinery for ensuring uninterrupted fuel supply across Nigeria, contrasting its efficiency with the perceived chaos from scattered import licences.

The call puts additional pressure on the government to reconsider its downstream petroleum policies as Nigerians grapple with soaring petrol prices.

Article source: primetimereporters.com | Image credit: Prime Time Reporters

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