The Group Chief Executive Officer, Mele Kyari, disclosed this during the ongoing Energy Labour Summit organized by the Petroleum and Natural Gas Senior Staff Association of Nigeria in Abuja.“None of them can do it today. For them, access to foreign exchange is difficult. We create foreign exchange , therefore we have access to FX, while their access to FX is limited,” Mr Kyari said.
“Then at the same time, we’ll look at the flexibility and ease of doing business for it, to enable them to import with ease,” he added. it is fast-tracking the process of issuing oil marketers licenses to import petroleum products in its bid to break the monopoly of the Nigerian National Petroleum Company Limited in compliance with the Petroleum Industry Act 2021.of petrol of about 27 million litres into the country.
He noted that despite the removal of petroleum subsidy, local refining remained the best option for the country to guarantee energy security, considering the huge foreign exchange implication of the imported products.