The Nigerian Midstream and Downstream Petroleum Regulatory Authority has authorized seven oil companies to import fuel for the third quarter of 2026. This decision addresses mounting fears regarding domestic energy availability.
Specifically, the regulatory body granted permits for the arrival of Premium Motor Spirit and Automotive Gas Oil between July and September. The beneficiaries include Matrix Energy, AA Rano, AYM Shafa, Bono, Nipco, and Pinnacle. These licenses represent a strategic effort to stabilize the market and mitigate potential shortages caused by falling inventory levels and reduced domestic refinery output.
According to reports, Matrix Energy and AA Rano are each authorized to import 180,000 metric tonnes of petrol. Pinnacle is set to bring in 150,000 metric tonnes, while AYM Shafa is permitted for 120,000 metric tonnes. Regarding diesel, AYM Shafa and Pinnacle received allocations of 60,000 and 45,000 metric tonnes respectively. While these firms are the primary recipients, experts anticipate that total petrol import volumes may exceed 800,000 metric tonnes once the regulatory process finishes.
Current data highlights the urgency of this intervention, as petrol stock duration dipped to 16 days throughout May. Lower international fuel prices at this time may provide a financial incentive for marketers to utilize these import permissions.
