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CBN Gives Oil Marketers Forex to Import Diesel

By Modupe Gbadeyanka

The Central Bank of Nigeria (CBN) has released foreign exchange to marketers to import into the country Automated Gas Oil (AGO), commonly called diesel.

This information was disclosed in a statement issued by the Nigerian National Petroleum Corporation (NNPC).

The agency further said the apex bank has also approved the release of forex to oil marketers to bring Aviation Turbine Kerosene (ATK) into Nigeria.

The NNPC noted in the statement that it would continue to import to supplement local refining to help reduce shortage in the supply of the products to consumers.

The NNPC said it has re-commissioned its strategic 479.2 kilometres System 2B petroleum products pipeline network which stretches from the Atlas Cove-Mosimi-Ejigbo-Ibadan, terminating at Ilorin which will enhance effective distribution of petroleum products nationwide, especially with the envisaged resumption of loading activities at the Mosimi, Ejigbo and Ibadan depots.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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