Emadeb Energy to begin petrol importation in July- CEO
By Yusuf Yunus
Mr Debo Olujimi, Chief Executive Officer, Emadeb Services Ltd.,says the company will begin importation of Petroleum Motor Spirit (PMS), known as petrol, into the country from July.
Olujimi confirmed the development in an interview with the Business Intelligence (TBI Africa), on Sunday in Lagos.
He said that Emedeb was among the three energy companies licensed by the Federal Government to import petroleum products into the country.
It would be recalled that President Bola Tinubu granted licences to Eterna Plc, Emadeb Energy Services Ltd., and Asharami Energy to import petrol into the country from July.
The three oil companies were given permission to import petrol by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The companies are the first among the six oil firms licensed to import petrol by July.
Following the withdrawal of the petrol subsidy, the Nigerian National Petroleum Company (NNPC) Ltd. said it is no longer the sole supplier of petrol in the country.
Prior to the subsidy removal, the company served as the country’s last-resort supplier, ensuring a steady distribution of petroleum products.
On June 15, the Chief Executive Officer of NMDPRA, Mr Farouk Ahmed, announced that three oil marketers will start importing petroleum products from July.
Ahmed said the oil marketers reached an agreement to enhance cooperation with security agencies, with the aim of facilitating the seamless supply and distribution of petroleum products.
He had said: “Already, three oil marketers will from July this year start importing petroleum products into the country.”
“There are six companies who said they want to import fuel in July.
“Of course, all the others may import in December, in November, or anytime but those who expressed interest to bring in fuel in July there were six of them as of this morning.”
