Nigeria Issues New Gasoline Allocations Despite Payment Worries

Nigeria has issued allocations for imports of some 1.8 million tonnes of gasoline for the fourth quarter, traders said on Thursday, despite concerns over the country's ability to make good on delayed subsidy payments.

The provisional figure, issued individually to companies this week, is on par with the final tally the country's Petroleum Products Pricing Regulatory Agency (PPPRA) issued for the third quarter.

But traders said only 50-60 percent of those allocations were filled as companies struggled to access the financing they need due to the delayed subsidy payments.

Category: 
myfinancialintelligence.com