President of the Dangote Group, Alhaji Aliko Dangote, has called on President Bola Tinubu to include refined petroleum products in the list of items banned under the Federal Government’s ‘Nigeria First’ policy.
The policy, introduced in May, prohibits government agencies from importing goods and services that can be sourced locally.
Speaking at the Global Commodity Insights Conference on West African Refined Fuel Markets, Dangote stressed the need to extend the policy to the petroleum sector.
He argued that allowing the continued importation of refined products like petrol and diesel is undermining domestic refineries and threatening the long-term viability of local investment.
According to him, refined fuel imports are being dumped into Nigeria at prices far below production costs, often with toxic content that would not be accepted in Europe or North America.
He said this practice discourages local production and investment, warning that without protective policies, the Nigerian refining industry could collapse.
“Today, we are facing increased dumping of cheap, often toxic petroleum products,” Dangote said. “Some are subsidised from countries like Russia and are blended to substandard levels. This puts local refineries at a serious disadvantage.”
To support his claim of domestic refining capacity, Dangote revealed that in just 50 days, between June and July 2025, his refinery had exported over one million tonnes of petrol, equivalent to approximately 1.35 billion litres. He declared that Nigeria is now a net exporter of refined petroleum products.
He also addressed concerns about monopoly, stating that his intention is not to dominate the market but to encourage local production and investment. Dangote criticised wealthy Nigerians who, according to him, invest abroad while offering little support for domestic development.
However, the call to ban fuel imports has sparked sharp criticism from major industry players. The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) described the proposal as unrealistic and potentially dangerous for a free-market economy.
IPMAN’s National Publicity Secretary, Chinedu Ukadike, said the move would hurt independent marketers and lead to inflation and artificial scarcity. “If the government does that, it will spell doom. We should import and also buy locally. Dangote cannot meet national demand alone,” he said.
He added that competition from imports will actually push local refineries to improve. “Importation won’t kill local refineries; it will make them better,” Ukadike maintained.
Similarly, PETROAN President Billy Gillis-Harry rejected the proposal, warning that no single company should control the downstream sector.
He argued that fuel importation ensures diversity in energy supply and helps prevent price manipulation. “We support banning some goods, but not refined petroleum. That would be a step backward,” he said.
