President of Dangote Group, Aliko Dangote, has urged the Federal Government to ban the importation of refined petroleum products under the ‘Nigeria First’ policy, arguing that local refiners are being undermined by cheaper, often substandard imports.
Speaking at the Global Commodity Insights Conference hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and S&P Global Insights, Dangote called for petrol, diesel, and other refined fuels to be included in the government’s list of restricted imports. The ‘Nigeria First’ policy, announced in May by President Bola Tinubu, prohibits public agencies from procuring foreign goods available locally.
Dangote claimed imported fuel was being “dumped” at prices below cost and of lower quality than acceptable in Europe or North America. He also alleged that subsidised Russian products were undercutting Nigeria’s domestic output, creating unfair competition. “To remain viable, we urge African governments to protect local refiners just as the U.S., Canada, and EU do,” he said.
He dismissed concerns over market dominance, asserting, “This is not about monopolising the sector, but about ensuring that investments made locally are protected.”
According to Dangote, the $20bn Dangote Refinery has already made Nigeria a net exporter of refined fuel. He disclosed that over 1 million tonnes—around 1.35 billion litres—of petrol had been exported within 50 days between June and July 2025.
However, industry stakeholders have pushed back. The Independent Petroleum Marketers Association of Nigeria (IPMAN) and other groups warned that banning fuel imports would hand Dangote a monopoly and harm the market.
IPMAN’s National Publicity Secretary, Chinedu Ukadike, said: “We do not support a fuel import ban. It would worsen inflation and monopolise supply since only one refinery is operational. Importation strengthens competition.”
Billy Gillis-Harry, President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), echoed this view, saying that fuel should not be subject to import bans in a free market economy. “We support banning non-essential imports like toothpicks and garri—not fuel,” he said.
Energy law expert Professor Dayo Ayoade of the University of Lagos warned that banning petroleum imports would violate international trade principles and risk national energy security. “We cannot depend solely on Dangote Refinery. The market must be diversified first,” he said.
Despite opposition to the import ban, many supported Dangote’s call for the revocation of dormant refinery licences. “On that side, I agree with him,” said Ukadike. “We need more functional refineries.”
Dangote recently announced his retirement as Chairman of Dangote Cement’s board to focus on his refinery and other industrial ventures.
