**FG Suspends Petrol Importation as Local Production Surges** The Federal Government has made a significant move in the oil and gas sector by suspending the issuance of Premium Motor Spirit (PMS) or petrol import licenses for the second consecutive month. This decision is a direct result of the improved local production of petrol, which has reduced the need for imports. According to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), no import licenses were issued in February, and none have been issued so far in March. This shift highlights the government's commitment to protecting domestic refining and supporting local refineries like the Dangote Refinery. In 2025, the Dangote Refinery, along with other local refineries, sued the NMDPRA and the Nigerian National Petroleum Company (NNPC) Limited to stop petrol imports, citing the need to prioritize local production. The Petroleum Industry Act (PIA) allows the regulator to grant import permits only when domestic production is not enough to meet national demand. The suspension of petrol imports is a significant development, especially considering the current global oil market, which has been affected by the conflict in the Middle East. The sharp rise in fuel pump prices, which has surged by over 54% since the conflict began, may have been mitigated by the increased local production. Nigeria's average daily petrol consumption has also decreased to 56.9 million litres per day in February 2026, down from 60.2 million litres in January. The Dangote Refinery supplied 36.5 million litres of petrol and 8 million litres of diesel to the local market in February, which was sufficient to meet the demand. This has led the NMDPRA to withhold import licenses. The decision to suspend petrol imports is a win for local refineries and a sign of the government's commitment to supporting domestic production. As the country continues to grow its refining capacity, Nigerians can expect to see a more stable and reliable supply of petrol, which will have a positive impact on the economy and the environment.