The Group Chief Executive Officer, Mele Kyari, disclosed this during the ongoing Energy Labour Summit organized by the Petroleum and Natural Gas Senior Staff Association of Nigeria in Abuja."None of them can do it today. For them, access to foreign exchange is difficult. We create foreign exchange , therefore we have access to FX, while their access to FX is limited," Mr Kyari said."The importing market is already open.
"Then at the same time, we'll look at the flexibility and ease of doing business for it, to enable them to import with ease," he added. According to the company, the 27 million litres of petrol came into the country in a cargo valued at over $17 million with huge foreign exchange components. "The value of this cargo here, you cannot find it in the market just like that. It is over $17 million, and you can't, in any way, with what the FX is today. Today, we have imported 27 million litres of PMS, but local refining is the way forward for us in this country.