Mega Icon Magazine recalled that  President Bola Tinubu had during his  May 29 inaugural address, declared that “fuel subsidy is gone”.

This latest development indicates that the monopoly of the Nigerian National Petroleum Company (NNPC) Limited has come to an end.

The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Farouk Ahmed, made this known during a stakeholder engagement in Lagos.

He added that out of the 56 oil marketing companies that applied for and obtained licences, 10 indicated the ability to import in the third quarter of 2023, while three had “landed cargo”.

Ahmed listed the three companies currently importing the product to include, A.Y. Ashafa, Prudent Energy, and Emadeb, explaining that others would import between August and September.