The Nigerian government has issued refining licences to 83 companies as petrol imports decline sharply, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced on Tuesday.

Speaking at a press conference in Abuja, NMDPRA Chief Executive Farouk Ahmed said the licensed firms have a combined refining capacity of 1,124,500 barrels.

Of the 83 companies, eight have been granted Licences to Operate, 30 have Licences to Construct, while 40 hold Licences to Establish.

Ahmed noted that Nigeria’s petrol imports have dropped from 44.6 million litres per day in August 2024 to 14.7 million litres as of April 13, 2025.

He attributed the decline to increased domestic production, particularly from the Port Harcourt Refining Company and modular refinery operators.

He also linked the recent dip in global crude oil prices to new tariffs imposed by U.S. President Donald Trump, warning that the protectionist measures are fuelling market volatility and undermining investor confidence.