Dangote Urges FG to Ban Fuel Imports Under ‘Nigeria First’ Policy, Marketers Kick

President of Dangote Group, Alhaji Aliko Dangote, has called on President Bola Tinubu to include refined petroleum products in the list of items restricted under the Federal Government’s ‘Nigeria First’ policy—a proposal that sparked sharp opposition from oil marketers and industry experts on Sunday.

The ‘Nigeria First’ directive, introduced in May, bars government agencies from importing goods or services readily available in the country, requiring clearance from the Bureau of Public Procurement for exceptions.

Addressing stakeholders at the Global Commodity Insights Conference on West African Refined Fuel Markets—organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in collaboration with S&P Global Insights—Dangote argued that the continued importation of petrol, diesel, and other refined fuels was undermining local refining capacity.

“The Nigeria First policy announced by His Excellency, President Bola Tinubu, should apply to the petroleum product sector and all other sectors,” he stated.

According to Dangote, importation of refined fuel discourages investment, stifles local production, and threatens economic stability. He said countries like the United States, Canada, and the European Union have taken deliberate steps to protect their local industries, and Africa must follow suit.

“And to make matters worse, we are now facing increased dumping of cheap, often toxic petroleum products, some of which are blended to substandard levels that would never be allowed in Europe or North America,” he said.

He further alleged that fuel and crude oil subsidised in Russia were finding their way into African markets, distorting pricing and placing Nigerian refiners at a disadvantage.

“Due to the price caps on the Russian petroleum products, discounted petroleum products produced in Russia or with discounted Russian crude find their way to Africa, severely undercutting our local production, which is based on full crude pricing. This has created an unlevel playing field in most African countries,” he said. “In Nigeria, due to this unfair competition, this price is just about 60 cents, even cheaper than Saudi Arabia, which produces and refines its own oil.”

Dangote insisted that his plea was not a bid to dominate the market but to protect domestic investment.

“Let me take this opportunity to address concerns around monopoly and dominance. The reality is that too many people who have the means and the opportunity to contribute meaningfully to our nation’s growth choose instead to criticise from the sidelines while investing their wealth abroad,” he said.

To support his claim that Nigeria no longer depends on imports, he disclosed that his refinery had exported 1 million tonnes of petrol—around 1.35 billion litres—between June and July 2025.

“Today, Nigeria has actually become a net exporter of refined products. From June beginning to date, we have exported about 1 million tonnes of PMS, within the last 50 days,” he added.

Marketers and Analysts Oppose Ban

However, the proposal met strong resistance from industry stakeholders. The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, warned that banning fuel imports could increase inflation and create a monopoly.

“We independent marketers will depart from that request. If the government does that, that means we will not be able to check inflation and monopoly, since it is the only refinery operating in the country now. We should continue to import even as we buy locally,” he said.

Ukadike disagreed with Dangote’s claims that importation harms local businesses.

“Importation won’t kill local businesses or refineries; it will strengthen them. It will ensure local refineries step up their game. I don’t agree with Dangote on this,” he said.

The National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, also rejected the suggestion, saying the sector must remain competitive and open.

“I don’t agree with Dangote. We are running a free economy. There’s no reason why any one company should have an overarching value on the entire industry,” he said.

“Importation is not killing the economy. Importation is stabilising the sources of petroleum products… Refined petroleum products should not be banned because it helps to ensure that there are multiple sources of energy and replenishment.”

Expert Weighs In

Professor Dayo Ayoade, an energy law expert from the University of Lagos, also cautioned against any ban, describing it as economically risky and legally problematic.

“No, we cannot have a ban on petroleum imports. It’s not a legal ban. That would not be acceptable because we don’t have diverse sources for petroleum products. We can’t rely solely on the Dangote refineries. That would give a monopoly to a private individual,” he warned.

“And you know, when we talk about bans, we have to look at international trade. International trade law does not really sit well with banning things. So, we have to be clever about how we do it.”

More Refineries Needed

Dangote also used the conference to call for the development of more local refineries and urged regulators to withdraw licences from companies that have failed to act on them. On this point, Ukadike agreed.

“You can’t obtain a licence to build a refinery and use it to decorate your house. The nation needs more refineries to do more exports,” he said.

Dangote maintains that his refinery, which is expected to reach a 700,000 barrels per day capacity by December—up from 650,000 BPD—is capable of meeting Nigeria’s fuel demand. He has often accused importers of undermining the refinery’s progress.

Meanwhile, the billionaire industrialist recently announced his retirement as Chairman of the Board of Dangote Cement to concentrate fully on the $20bn refinery project, as well as ongoing ventures in petrochemicals, fertilisers, and regulatory engagement.