83 firms get refining licences as petrol imports drop – NMDPRA

The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has disclosed that the government has approved refining licenses to about 83 companies with a combined total refining capacity of 1,124,500.  He explained that eight refineries have been issued Licenses to Operate (LTO), 30 refineries with Licenses to Construct […]

The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has disclosed that the government has approved refining licenses to about 83 companies with a combined total refining capacity of 1,124,500. 

He explained that eight refineries have been issued Licenses to Operate (LTO), 30 refineries with Licenses to Construct (LTC) and 40 refineries with License to Establish (LTE). 

Addressing a press conference at the Presidential Villa, Abuja, on Tuesday, Ahmed said with the refineries, Nigeria has recorded a significant decline in the importation of Premium Motor Spirit (PMS), as local refineries begin to play a more active role in meeting domestic fuel demand.

The NMDPRA CEO said, the country’s petrol imports dropped from 44.6 million litres per day in August 2024 to just 14.7 million litres per day by April 13, 2025 – a reduction of nearly 30 million litres daily.

The agency attributed the sharp decline to increased production from domestic refineries, particularly the gradual restart of the Port Harcourt Refining Company and contributions from modular refinery operators.

 

 

 

He said the recent tariff imposition by the United States President Donald Trump was responsible for the recent slump in global crude oil prices. 

 

 

 

Ahmed warned that Trump’s protectionist trade policies – particularly new tariffs targeting key global economies – are fuelling uncertainty in international oil markets, driving volatility and dampening investor confidence.