FG Suspends Petrol Import Licenses for Second Month

Federal Government halts PMS import permits for February and March 2026 under Petroleum Industry Act provisions requiring imports only when domestic supply insufficient. NMDPRA data shows February consumption at 56.9 million litres daily, down from 60.2 million in January. Dangote Refinery supplied 36.5 million litres petrol and 8 million litres diesel in February, meeting local demand. CORAN welcomes move protecting local refiners' margins after lawsuits against NMDPRA/NNPC. Fuel prices surged 54% since Middle East conflict, pushing global markets higher. FG prioritizes domestic refining amid global oil price volatility.

SOURCE: https://www.channelstv.com/2026/03/11/fg-suspends-petrol-imports-over-boost-in-local-production/