The Federal Government has once again suspended the issuance of petrol import licences as local refining capacity continues to satisfy Nigeria’s domestic fuel demand.
The development was disclosed by the Office of the Special Assistant to the President on Social Media in a post on the X handle of Dada Olusegun, Special Assistant to the President on Social Media, on Wednesday.
The statement noted that the suspension has now lasted for two consecutive months.
According to the statement, the decision reflects the government’s effort to prioritise locally refined petroleum products and to strengthen the country’s refining sector.
“The Federal Government has suspended the issuance of petrol import licences for a second consecutive month as local refining capacity increasingly meets domestic demand,” the office said.
According to him, the move is also part of the government’s strategy to implement provisions of the Petroleum Industry Act (PIA), which encourages reliance on domestic refining before allowing fuel imports.
It said, “The move signals the government’s push to enforce provisions of the Petroleum Industry Act (PIA), which allow imports only when domestic refining capacity falls short.”