By Muhammad Mamman
Alhaji Aliko Dangote has called on President Bola Tinubu to expand the Federal Government’s “Nigeria First” policy by prohibiting imports of refined petroleum products, such as petrol and diesel, to protect local industries.
Introduced in May, the “Nigeria First” initiative bars government agencies from procuring foreign goods and services that are available domestically. The policy mandates that any acquisition of imported products must be justified and approved with a waiver from the Bureau of Public Procurement.
Speaking at the West African Refined Fuel Markets Conference, hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in partnership with S&P Global Insights, Dangote pressed for the inclusion of refined petroleum products in the restricted import list. He argued that such a move would safeguard Nigeria’s burgeoning refining sector.
“The ‘Nigeria First’ policy, championed by His Excellency, President Bola Tinubu, must extend to the petroleum sector and beyond,” Dangote declared. “We face a surge in dumped, often substandard and toxic petroleum products, blended to levels unacceptable in Europe or North America. Discounted Russian crude and products, capped by price controls, flood African markets, undercutting local refiners who bear the full cost of crude. This creates an uneven playing field across the continent.”
Dangote highlighted that petrol and diesel in Nigeria are sold at approximately $0.60 per litre, net of taxes—cheaper than in Saudi Arabia, a major oil producer and refiner. “This is driven by excessive dumping,” he said, urging African governments to adopt protective measures akin to those in the United States, Canada, and the European Union to shield domestic industries from unfair competition.
However, petroleum marketers have opposed Dangote’s proposal, cautioning the Federal Government against including refined products in the import ban, citing potential disruptions to supply and pricing.
The debate underscores the tension between fostering local production and ensuring affordable fuel access, as Nigeria navigates its economic priorities.
