ABUJA – The Independent Petroleum Marketers Association of Nigeria has stated that the Federal Government’s approval of 830,000 metric tonnes of petrol imports for the fourth quarter of 2026 must translate into stronger market competition and lower pump prices for Nigerian consumers.
Speaking in an interview, IPMAN Public Relations Officer Chief Chinedu Ukadike acknowledged that the Nigerian Midstream and Downstream Petroleum Regulatory Authority acted within its statutory mandate as an industry regulator by issuing the fourth-quarter import licenses to designated marketers.
However, Ukadike emphasized that the granting of import licenses does not automatically guarantee product availability or price relief for the public. He noted that the true impact of the policy hinges on whether the recipient marketing companies can import and land petrol at costs capable of undercutting prices offered by domestic refiners, most notably the Dangote Petroleum Refinery. He cautioned that if imported petrol arrives at landing costs higher than locally refined supplies, the entire import quota will prove to be an exercise in futility for consumers.
The regulatory agency’s latest approval covers the allocation of 830,000 metric tonnes of fuel across the fourth quarter to meet anticipated demand surges ahead of the end-of-year festive period.
Market tracking data indicates that the permits were awarded to six major petroleum marketing firms, including Matrix Energy, AA Rano, AYM Shafa, NIPCO, Pinnacle Oil, and Bono Energy.
The allocation represents a continued increase in import quotas over previous quarters, following allocations of 180,000 metric tonnes in the first quarter, 720,000 metric tonnes in the second quarter, and over 800,000 metric tonnes in the third quarter.
The continued authorization of large-scale fuel imports coincides with a steady increase in domestic refining output, driven primarily by expanded operations at the Dangote Petroleum Refinery.
The policy has also fueled an ongoing legal dispute, with the Dangote Refinery challenging the regulatory body’s authority to issue import permits when domestic refining capacity is sufficient to satisfy local market demand.
According to recent regulatory data, domestic refineries supplied approximately 76.7 percent of Nigeria’s total petrol requirements in the first quarter of 2026, while total fuel imports plummeted by nearly 60 percent year-on-year down to roughly 965.5 million liters.
