Private firms in Nigeria can start importing fuel from June 2023 as the Nigerian National Petroleum Company Limited (NNPCL) shifts to cash payments instead of crude oil swap contracts.
Mele Kyari, the Group CEO of NNPCL, made this announcement during an interview with Reuters on June 3.
This transition aligns with President Bola Tinubu’s plan to deregulate the fuel market and ease the government’s financial burden.