Emadeb Energy, first independent oil marketer to import 27m litres of petrol

Emadeb Energy Services Limited has imported 27 million litres of Premium Motor Spirit (PMS) – petrol – into Nigeria. The company made history in being the first independent oil marketer to bring petrol into the country after the federal government issued licenses to six companies to import petrol so as to break the monopoly of the Nigeria National Petroleum Company (NNPC).

National Daily gathered that the vessel conveying the 27 million litres of petrol, worth about 17 million dollars, ST NENNE, berthed at Emadeb Jetty in the Ijagun, Lagos State.

The Chief Executive Officer of the company, Debo Olujimi, at a brief ceremony to unveil the product, urged the federal government to to give special consideration to petrol importers in sourcing foreign exchange for petroleum products.
According to Olujimi: “We call on the government to help in finding a window where this issues of dollars are resolved and we can have a fixed market rate to bring in this and access this without any condition just for the PMS, then it will go a long way to ease the sufferings of Nigerians.”

The Executive Director, Corporate Services and Administration of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Bashir Sadiq, had stated: “When we talk about deregulation, people just think about increase in price. Actually, it is not; it is opening up the space for more participation.”