crude oil valued at N1.64tn was exchanged for refined Premium Motor Spirit, popularly called petrol, under the Direct Sale Direct Purchase arrangement from January to August 2021, according to official data.
It introduced the scheme in 2016 to ensure adequate petrol imports into the country, and has been the sole importer of the commodity for over four years as other marketers have avoided PMS imports because of the current realities in the nation’s downstream sector. The crude oil swapped under the DSDP scheme in January, February and March 2021 were valued at N123.6bn, N231.88bn and N184.53bn respectively.
Not sensible enough.
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