Skip to content
October 2, 2026
  • Home
  • About us
  • Contact us
  • Newsletter
  • Privacy Policy
Political Economist

Political Economist

A liberal News reporting Politics, Sports, Business, Commentaries

  • Home
  • National News
    • Metro News
      • metro
    • Society
    • Crime and Justice
  • Special Reports
    • Investigation
    • Features
    • Interviews
  • Opinion
    • Commentaries
    • Perspectives
  • Press Releases
  • International News
  • Business & Economy
  • Politics
Watch Online
  • Home
  • Business & Economy
  • Nigeria prioritises local gasoline supply, suspends import licences
  • Business & Economy

Nigeria prioritises local gasoline supply, suspends import licences

Admin March 10, 2026
The Authority

NMDPRA logo

Nigeria has suspended the issuance of gasoline import licences for a second straight month as regulators begin enforcing provisions of ​the Petroleum Industry Act (PIA) that only allow imports when the African ‌country’s domestic supply falls short.

Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) show no import licences were issued in February, while the Crude Oil Refineries Association of ​Nigeria (CORAN) confirmed that none has been issued so far in March, signalling ​a shift towards prioritising local output.

This southern Indian eatery chain, famous for its masala dosa, may have to close its doors, as a fuel crisis stemming

This shift highlights a stronger ⁠intent by Nigerian authorities to protect domestic refining and marks a win ​for the Dangote Refinery, which last year sued the regulator and the state ​oil company to force a halt to imports.

Under the PIA, the regulator may grant import permits only when domestic production is not enough to meet national demand.

The previous regulator, who quit ​last year, argued that issuing licences was necessary to maintain competition and ​prevent market dominance.

Fuel pump prices have surged by more than 54% since the U.S. and ‌Israel ⁠began strikes on Iran last week, pushing global oil markets higher.

NMDPRA spokesperson George Ene‑Ita blamed the sharp rise in prices on escalating conflict in the Middle East.

Nigeria’s average daily petrol consumption fell to 56.9 million litres per day ​in February 2026, ​down from 60.2 ⁠million litres in January.

In February, the Dangote Refinery supplied 36.5 million litres of petrol and 8 million litres of ​diesel to the local market.

The regulator deemed these volumes ​were sufficient, ⁠leading to its decision to withhold import licences.

Eche Idoko, spokesperson for the Crude Oil Refiners Association of Nigeria (CORAN), which has long urged the government to stop ⁠issuing import ​licences that undermine local refiners’ margins, welcomed the ​regulator’s stance.

“For us, anything that protects local production is a good move. The challenge now is ​to sustain the momentum,” Idoko said.

REUTERS

  • Facebook
  • Share on X
  • LinkedIn
  • WhatsApp
  • Email
  • Copy Link
Tags: CORAN Eche Idoko NMDPRA

Post navigation

Previous NCAA issues Air Operator Certificate to Enugu Air
Next NNPC secures presidential approval for $20b FID Bonga Deepwater project

Related Stories

Honeywell to help build Dangote’s new Kenyan mega-refinery William Ruto
  • Business & Economy

Honeywell to help build Dangote’s new Kenyan mega-refinery

September 30, 2026
Dangote to begin construction of $16 billion East Africa refinery in Kenya Aliko Dangote
  • Business & Economy

Dangote to begin construction of $16 billion East Africa refinery in Kenya

September 30, 2026
NGX Group Chairman Woos East African Investors for Upcoming Dangote Refinery IPO
  • Business & Economy
  • National News

NGX Group Chairman Woos East African Investors for Upcoming Dangote Refinery IPO

September 29, 2026
logo

Political Economist is a liberal news magazine with global affiliations.

At Political Economist, we promote free enterprise and act as a catalyst for the growth of knowledge economy. We are proudly pan-Nigeria yet richly spiced with African and global news. We offer a fair and balanced news reportage presented by our team of well-heeled professional journalists. <

About us

  • 5 Olutosin Ajayi Street, By CPM Church, Ajao Estate, Lagos State, Nigeria
  • +234 805 680 1124
  • info@politicaleconomistng.com

Follow

Subscribe to notifications

You may have missed

Tinubu, wife, four governors, Akpabio, others attend MKO documentary premiere
  • National News

Tinubu, wife, four governors, Akpabio, others attend MKO documentary premiere

October 2, 2026
Independence Day: Over 380 Arrested, 230 Convicted in Kano Drug Crackdown — Gov. Yusuf Kano
  • National News

Independence Day: Over 380 Arrested, 230 Convicted in Kano Drug Crackdown — Gov. Yusuf

October 1, 2026
Navy rescues 2 kidnapped victims from Pirates in Akwa Ibom Naval rating arrested
  • National News

Navy rescues 2 kidnapped victims from Pirates in Akwa Ibom

October 1, 2026
Coscharis interview and the Peter Obi question, by Valentine Obienyem
  • Commentaries

Coscharis interview and the Peter Obi question, by Valentine Obienyem

October 1, 2026
  • Home
  • About us
  • Contact us
  • Newsletter
  • Privacy Policy
Copyright © All rights reserved. | DarkNews by AF themes.