DANGOTE URGES FG TO BAN IMPORTATION OF REFINED PETROLEUM PRODUCTS UNDER ‘NIGERIA FIRST’ POLICY

Business mogul and President of Dangote Group, Alhaji Aliko Dangote, has called on President Bola Tinubu to include refined petroleum products in the list of banned imports under the Federal Government’s Nigeria First policy, in a bid to protect local production and discourage dumping of substandard fuel into the Nigerian market.

Dangote made the call while speaking at the West African Refined Fuel Markets Conference, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in partnership with S&P Global Insights.

According to him, the Nigeria First policy—introduced in May to restrict government agencies from procuring foreign goods and services that are available locally—should be extended to cover the petroleum sector, particularly refined products such as petrol and diesel.

“The Nigeria First policy announced by His Excellency, President Bola Tinubu, should apply to the petroleum products sector and all other sectors. We are witnessing a wave of dumping of cheap, and in some cases, toxic refined petroleum products,” Dangote said.

He further warned that the influx of discounted fuels, especially those refined using Russian crude, was undermining local producers who are operating under standard crude pricing. He noted that these imported fuels are sometimes sold below global benchmarks, creating an uneven playing field for Nigerian refiners.

“In Nigeria, these products are landing at around 60 cents per litre—cheaper than what obtains in countries like Saudi Arabia that refine their own crude. This is simply unsustainable,” he added.

The industrialist urged African governments to adopt similar protectionist measures already in place in Europe, North America, and parts of Asia to shield local industries from unfair competition.

However, not everyone is on board with the suggestion. Petroleum marketers have kicked against the proposal, warning the Federal Government not to include petroleum products on the list of import bans. They argue that such a move, if implemented without adequate local refining capacity, could lead to supply disruptions and worsen fuel scarcity.

The disagreement highlights the ongoing debate around protectionism, local production, and Nigeria’s long-standing dependence on fuel imports despite being a major crude oil producer.