Refinery Owners Seek Presidential Action on Crude Supply, Naira Payments

Refinery Owners Seek Presidential Action on Crude Supply, Naira Payments

The Crude Oil Refinery Owners Association of Nigeria has called for urgent intervention by President Bola Tinubu to address the structural and commercial difficulties facing domestic refiners. CORAN warned that without appropriate measures, Nigeria could continue exporting crude oil, employment opportunities and refining margins while remaining dependent on imported petroleum products. In a position paper…

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Regulator Issues Fresh Petrol Permits As Stocks Decline

Federal Government Suspends Petrol Imports to Protect Local Refiners

The Federal Government has suspended the issuance of petrol import licences for a second consecutive month, signalling a hard pivot toward domestic self-sufficiency. This move, enforced by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), marks the first significant application of the Petroleum Industry Act (PIA) provisions that restrict imports unless local supply fails…

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