Independent petroleum marketers have called on the Federal Government to restore petrol importation rights, saying the move could drive the pump price of Premium Motor Spirit (PMS) below ₦800 per litre.
The appeal came as the Federal Government stepped up efforts to reduce the cost of petrol by engaging key players in the downstream petroleum industry over the gap between declining global crude oil prices and the still-high domestic pump prices.
The meeting, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) at its Abuja headquarters, focused on achieving a more cost-reflective pricing system for PMS.
Participants included representatives of the Dangote Petroleum Refinery, the Federal Competition and Consumer Protection Commission (FCCPC), the Independent Petroleum Marketers Association of Nigeria (IPMAN), the Major Energy Marketers Association of Nigeria (MEMAN), the Depot and Petroleum Products Retailers Association of Nigeria (DAPPMAN), the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA), the Nigerian Association of Road Transport Owners (NARTO), and other major industry stakeholders.
Executives and representatives from TotalEnergies, Eterna Plc, Matrix Energy Group, alongside officials of the NMDPRA and delegates from the Dangote refinery, also attended the meeting.
