The Ministry of Mines and Energy has lifted a ban on issuing new wholesale petroleum licences, which was in place since August 2022.
According to a statement issued by the ministry on Wednesday, the moratorium was put in place to improve the ministry’s licencing systems and processes.
“Petroleum licences will be lifted effective 16 August,” noted the statement.
However, there is no change to the existing ban on issuing new retail petroleum licences, noted the ministry.
“The moratorium on issuing new retail licences continues to be in place. This is because there is evidence that the average demand for fuel has not increased, suggesting that issuing new retail licences will negatively affect the viability of existing retail outlets.”
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