Dangote has urged President Tinubu to ban fuel imports into Nigeria.
NewsOnline Nigeria reports that President of Dangote Group, Alhaji Aliko Dangote, has called on President Bola Tinubu to include refined petroleum products such as petrol and diesel in the list of banned imports under the Federal Government’s ‘Nigeria First’ policy.
Speaking at the Global Commodity Insights Conference hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority and S&P Global Insights, Dangote argued that continued importation of fuel is undermining Nigeria’s local refining capacity and discouraging investment in the energy sector. He claimed that toxic, subsidised petroleum products, including those originating from Russia, are being dumped in Nigeria at prices local refiners cannot match, warning that this poses a threat to domestic production.
ALSO: Senate Breaks Silence On Alleged Feud Between Akpabio and Bamidele
Dangote emphasized that his position is not aimed at monopolizing the market but rather at protecting local investments. He stated that the Dangote Refinery has already turned Nigeria into a net exporter of petroleum products, having exported over 1.35 billion litres of petrol in the last 50 days alone. He urged African governments to emulate the United States, Canada, and the EU by taking deliberate steps to safeguard local industry against unfair foreign competition.
However, the proposal met stiff resistance from key stakeholders. The Independent Petroleum Marketers Association of Nigeria (IPMAN), through its National Publicity Secretary Chinedu Ukadike, rejected the idea, arguing that banning imports could trigger inflation and create a monopoly, given that Dangote is currently the only operational refinery in the country. Ukadike maintained that continued fuel importation is essential for market balance and affordability.
Also opposing Dangote’s suggestion was the President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, who insisted that no single company should dominate Nigeria’s downstream oil sector. He asserted that importation stabilizes product availability and is critical to maintaining multiple energy sources, even as he supported the ban of other non-essential imports like toothpicks and garri.
Energy law expert, Professor Dayo Ayoade of the University of Lagos, also warned that any ban would promote monopolistic tendencies and raise serious national and energy security concerns. He noted that such a ban would violate principles of international trade law and suggested that the government instead liberalize the sector further to accommodate more players and avoid overdependence on one refinery.
Despite the backlash, Dangote urged regulators to revoke dormant refinery licences and push for the construction of more refineries to expand domestic refining capacity. He revealed plans for the Dangote Refinery to ramp up production to 700,000 barrels per day by December, up from its current 650,000 BPD.
As part of efforts to boost distribution, Dangote’s refinery is currently receiving 4,000 compressed natural gas-powered trucks to launch its free fuel delivery scheme on August 1. The initiative will supply fuel directly to filling stations and bulk consumers such as telecom companies.
Meanwhile, Dangote recently announced his retirement as Chairman of the Board of Dangote Cement to concentrate fully on the refinery, petrochemicals, fertiliser production, and government relations.
