REVEALED: Petroleum Industry Bill Would Permit Only Dangote Refinery, NNPC To Import Fuel If Passed Into Law
REVEALED: Petroleum Industry Bill Would Permit Only Dangote Refinery, NNPC To Import Fuel If Passed Into Law The law further goes ahead to rule out small players. If passed in its current form, the Senate version of the Petroleum Industry Bill will only permit two entities to import petroleum products into Nigeria: those who own active refining licenses and the Nigeria National Petroleum Corporation Limited. However, the law makes it impossible for even modular refiners like Walter Smith to import the product, as a clause in the concerned section provides that licenses be given based on the refining record of the permit holder. By the time the bill becomes law, the Dangote refinery, which has a 650,000-barrel per day refining capacity, would be in operation, making him the only license holder that would be able to import any substantial amount of petrol. The law also provides for the continuation of the NNPC's Direct Sale Direct Purchase contract, which experts have questioned for ...