Dangote argued at a recent energy summit that continued importation of petrol and diesel discourages local refining and investment…
A fresh fuel policy clash is unfolding as Africa’s richest man, Aliko Dangote, urged President Bola Tinubu to ban fuel imports under the ‘Nigeria First’ policy.
Dangote argued at a recent energy summit that continued importation of petrol and diesel discourages local refining and investment, citing dumping of toxic, subsidised fuels from abroad.
“The Nigeria First policy… should apply to the petroleum product sector,” he said. He claimed his $20bn refinery exported 1.35 billion litres of petrol in 50 days and could meet national demand.
But the Independent Petroleum Marketers Association of Nigeria and PETROAN strongly opposed the move, warning it could create a monopoly. “If the government does that, we won’t be able to check inflation and monopoly,” IPMAN’s Chinedu Ukadike said.
Energy law expert Prof Dayo Ayoade cautioned that such a ban violates trade norms and risks national energy security. “You can’t rely solely on one refinery,” he noted.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has yet to comment on the proposal, but the debate reveals a growing rift over control of the downstream sector just as Dangote steps back from Dangote Cement to focus on oil operations.