By Muhammad Mamman
Nigeria’s federal government is considering restarting fuel import approvals amid growing concerns over supply disruptions, following a warning from billionaire industrialist Aliko Dangote that petrol prices could rise if shortages persist.
Officials familiar with the discussions said the move is aimed at stabilising the domestic fuel market as the country navigates the transition to locally refined petroleum products, led by Dangote’s 650,000-barrel-per-day refinery in Lagos.
Dangote recently cautioned that logistical bottlenecks and limited access to crude oil could constrain production, potentially pushing up pump prices nationwide. His comments have reignited debate over Nigeria’s fuel supply strategy, months after authorities scaled back import licences in anticipation of increased local refining capacity.
Nigeria, Africa’s largest oil producer, has long relied on imported petrol due to inadequate domestic refining. The government had hoped the Dangote refinery would significantly reduce this dependence, saving billions of dollars in foreign exchange and easing pressure on the naira.
However, industry analysts say supply risks remain, particularly as distribution networks and regulatory frameworks are still being aligned to support large-scale local production.
A senior government source said reopening fuel import approvals is being considered as a temporary measure to prevent shortages and cushion consumers from sudden price shocks.
“We cannot afford disruptions in fuel supply,” the official said. “Any decision taken will prioritise market stability and the welfare of Nigerians.”
Since the removal of fuel subsidies last year, petrol prices have surged, deepening the cost-of-living crisis for millions. Transport fares and food prices have also climbed, making fuel availability a politically sensitive issue.
The government has yet to announce a formal decision, but stakeholders across the energy sector are urging swift action to avoid queues at filling stations and further inflationary pressure.
