Dangote Pushes for Fuel Import Ban, But Marketers Say “Not So Fast”
Aliko Dangote wants Nigeria to put the brakes on imported fuel. His reason? To protect local investments—like his massive new refinery—from being drowned out by cheaper, foreign products.
Speaking at a recent industry event in Abuja, the billionaire businessman urged President Tinubu to apply the Nigeria First policy to petrol, diesel, and other refined products. He believes the local market is flooded with low-cost imports—some of them allegedly substandard and even toxic by international standards.
“The stuff being dumped here wouldn’t fly in Europe or North America,” Dangote warned. “Some of it is even made with discounted Russian crude, creating an uneven playing field for local refiners like us.”
He stressed that his appeal isn’t about cornering the market but about creating a fair environment for domestic producers. According to him, despite operating without subsidies, imported products are still being sold at lower prices than Nigeria’s local output.
To prove his refinery can meet national demand, Dangote revealed that in just 50 days, his team had exported roughly 1.35 billion litres of petrol to international buyers. “We’ve actually become net exporters,” he said. “That’s a big deal.”
But not everyone’s clapping.
Some fuel marketers say Dangote’s proposal is a bad idea. They argue that banning imports would hurt the sector, limit competition, and allow a monopoly to form—especially since his refinery is the only major player currently operating at scale.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria, was blunt: “We’re not on board with that suggestion. If imports stop now, prices could skyrocket. Plus, one refinery can’t handle the country’s fuel needs alone.”
He also pushed back on the idea that imports weaken local refineries. “If anything, competition makes them stronger. It forces everyone to improve.”
Billy Gillis-Harry, who heads the Petroleum Products Retail Outlet Owners Association, echoed that sentiment. “We support local production, but not at the expense of options. A free market needs multiple sources of supply. Toothpicks? Ban them. Garri? Sure. But fuel? That’s different.”
Both marketers agree that while supporting local industry is important, limiting fuel options could backfire—especially for a country as energy-dependent as Nigeria.
As the debate continues, one thing is clear: finding the right balance between encouraging local investment and keeping prices fair for consumers won’t be an easy task.
