Petroleum Products Import Licence

AGO: 100,000mt
PMS: 250,000mt
DPK: 120,000mt

Renewed: 2018
Expires 2022 ( will be due for renewal in 2022)

PRICE: #4.5 Billion (NET)


OIL LICENSE TRANSACTION PROCEDURE:


Financially Competent Buyer to call for LOI Address.

LOI to come with:

ACCEPTANCE of the License cost of #4.5b.
Request for invitation for a meeting with Seller where people will be sent to DPR for verification/ authentication.

An Indemnity Bond of #10m each is to be exchanged by the Buyer and Seller at the meeting before verification/ authentication.

Upon satisfactory verification authentication, the buyer has seven (7) working days to effect payment failure leads to forfeiture of #10m.
While Seller loses his #10m if License is not genuine.

Buyer to be responsible for either the Seller's mandate or lawyer's logistics from Lagos to Abuja for the meeting.

In this transaction, Buyer to settle his Agents While Seller care for his Agents

Seller to pay his brokers immediately payment is confirmed.

The buyer to pay his brokers immediately as well.

Finally, the Seller hands over the License with all relevant documents to the buyer.