Why NNPC will license private companies to import fuel into Nigeria

  • The Nigeria National Petroleum Company Limited (NNPC) has stated that private companies can begin petrol imports
  • NNPC Chief Executive Officer Mele Kyari said that the company would end crude oil swap contracts
  • He revealed that immediate new players come into the market, the price of petrol will moderate

The Group Chief Executive Officer of Nigeria National Petroleum Company Limited (NNPC), Mele Kyari, has stated that private firms can begin fuel import in Nigeria.

The NNPC boss revealed this and said the company plans to end crude oil swap contracts and switch to cash payments for refined products.