The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has approved the importation of 830,000 metric tonnes of Premium Motor Spirit, PMS, commonly known as petrol, for the fourth quarter of 2026.

The approval covers six major petroleum marketers and comes amid increased domestic petrol refining and expectations of higher demand during the Christmas and end-of-year travel season.

The Independent Petroleum Marketers Association of Nigeria, IPMAN, says the import licences could encourage stronger competition and potentially lower petrol prices for consumers.

IPMAN's Public Relations Officer, Chief Chinedu Ukadike, said the NMDPRA was acting within its statutory mandate by issuing the licences. However, he stressed that the benefit to consumers would depend on the ability of the licensed marketers to import petrol at competitive prices.

Ukadike said issuing an import licence does not automatically guarantee product availability, adding that the key challenge is whether the licensed marketers can bring in petrol at prices that can compete with locally refined products.