The federal government of Nigeria has reduced the number of fuel importers into the country from 43 to 29 for the third quarter.

According to Tribune, this follows an approval from President Muhammadu Buhari to the Petroleum Products Pricing Regulatory Agency (PPPRA).   

Previously, 43 marketers were given import licenses and allocation but the significant reduction could be seen as a way of blocking leakages in oil and gas sector by the government.

The 29 marketers include the Nigerian National Petroleum Corporation (NNPC) which in the last couple of months struggled to sustain supply.

NNPC,NIPCO Plc, Oando Plc, Conoil, Mobil Oil, Masters Energy, Techno Oil and Folawiyo Oil and Gas, Total Nigeria Plc and Mobil Oil Plc are some of the companies granted imported allocations.

The third quarter import allocation is thought to be around 1.6 million metric tonnes of petrol, a PPPRA official says.