Dangote maintains the "Nigeria First" stance, while IPMAN and PETROAN resist and caution against monopoly. Alhaji Aliko Dangote, the president of the Dangote Group, has requested that President Bola Tinubu add refined petroleum products to the list of goods prohibited by the Federal Government's "Nigeria First" policy. However, on Sunday, several industry analysts and oil marketers uniformly disputed this.
The goal of the "Nigeria First" policy is to prevent government organizations from importing products that can be made in Nigeria. Tinubu prohibited government organizations from importing locally produced goods and services in May.
According to the rules, no purchase of foreign goods or services that are already offered in Nigeria may be made without a waiver from the Bureau of Public Procurement and a valid reason.
Speaking at the Nigerian Midstream and Downstream Petroleum Regulatory Authority's recently concluded Global Commodity Insights Conference on West African Refined Fuel Markets, which was organized in collaboration with S&P Global Insights, Dangote made a clear request that gasoline, diesel, and other refined petroleum products be included in the list of goods prohibited by the policy.
Fuel imports into Nigeria, he claims, are killing local refineries and deterring additional investments in the industry and even the economy. He advised African nations to take intentional measures to shield domestic producers from unfair competition, similar to what the US, Canada, and the EU have done, to stay viable.
Dangote is requesting that the importation of gasoline, diesel, and other locally produced goods be prohibited. He claimed that what he referred to as dumping was making it impossible for nearby refiners to sell their goods. Importers were dumping dangerous fuel that would never be permitted in Europe, according to the rich industrialist.
"To make things worse, we are now dealing with more cheap, frequently toxic petroleum products being dumped, some of which are blended to substandard levels that would never be permitted in North America or Europe," he said.
According to Dangote, some importers smuggle petrol or crude oil that has been subsidized in Russia into Nigeria. He claimed that this forces refiners to lower their prices below their expenses and has an impact on local pricing.
Our local output, which is based on full crude pricing, is badly undercut by discounted petroleum products made in Russia or with discounted Russian crude that make their way to Africa as a result of price limits on Russian petroleum products. In the majority of African nations, this has led to an uneven playing field. After taxes, the price of gasoline and diesel is approximately $1.
Because of the unfair competition, the price in Nigeria is only around 60 cents, which is even less expensive than in Saudi Arabia, which produces and refines its oil. We have too much dumping, which is the cause of this.
To stay afloat, we implore African governments to take proactive measures to shield domestic producers from unfair competition, similar to those taken by the US, Canada, and the EU," he said.
According to the wealthiest man in Africa, this was done to encourage local investment rather than monopolize the industry. He pointed out that while criticizing local investors, those with the means to invest in Nigeria continue to withdraw their funds outside.
"Let me use this chance to discuss issues related to dominance and monopoly. The truth is that far too many people who could make a significant contribution to the development of our country instead opt to spend their money overseas and criticize from the sidelines, Dangote stated.
Dangote revealed that Nigeria has turned into a net exporter of petroleum products, exporting over 1.35 billion liters of gasoline to other nations in just 50 days, as evidence that his $20 billion refinery can meet local fuel demands.
Dangote claims that the refinery exported up to 1 million tonnes of gasoline during June and July 2025, or over 1.35 billion liters when converted.
In actuality, Nigeria is now a net exporter of refined goods. I asked my colleagues how many tonnes of PMS we have exported before I took the podium. We have exported almost 1 million tonnes of PMS in the last 50 days, starting in June," he stated.
Ukadike disagreed with Dangote's assertion that imports will destroy local refineries and industries. "Importation will boost local companies and refineries, not destroy them. It will guarantee that nearby refineries improve. On this, I disagree with Dangote," he declared.
Billy Gillis-Harry, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, also opposed the proposal to outlaw the importation of fuel. According to him, in a free economy, no single business should be able to control the downstream industry. He acknowledged that some imports must be prohibited, but emphasized that Nigeria requires a variety of energy sources and that fuel should not be one of them. "Dangote is not someone I agree with.
Our economy is a free one. There is no justification for any one business to hold a monopoly on the whole sector. "The economy is not being destroyed by imports. The sources of petroleum products are becoming more stable due to imports. Importing all goods is beneficial. However, products like toothpicks, garri, egusi soup, cassava, and others that may be made in Nigeria ought to be prohibited.
Gillis-Harry said, "But since it helps to ensure that there are multiple sources of energy and replenishment, the importation of refined petroleum products should not be banned."
Professor Dayo Ayoade, an energy specialist at the University of Lagos, cautioned against prohibiting the importation of petroleum, claiming that doing so would encourage monopolistic practices.
"No, a prohibition on the import of petroleum is not feasible. It's not a lawful prohibition. We don't have a variety of petroleum product sources; therefore, that would be unacceptable. The Dangote refineries are not our only option. That would grant a private individual a monopoly.
And that would be unacceptable for national security and energy security considerations. The government ought to keep promoting, easing restrictions, and making sure that additional refineries move upstream.
It's okay if NNPC decides to sell off or privatize its refineries.
"But before we start saying we want to ban imports, we need to have a better base of product market," he said. He asked about the local and international regulations pertaining to product bans.
And you know, we have to consider international trade when we discuss bans. Banning products is not actually in line with international trade law. Therefore, we must be creative in our approach. However, if the market is ready, importing goods from other nations will be more costly than domestically produced goods, as long as the quantity and quality are enough," the don argued.
Dangote urged the regulator to support the construction of additional refineries during the NMDPRA summit. Those who were holding onto idle refinery licenses were ordered to have them revoked by the agency.
"I agree with him on that side," the IPMAN spokesperson said, endorsing Dangote on this point. Building a refinery and using it to adorn your home is not permitted. To increase exports, the country needs more refineries.
In response to some marketers' insistence on "sabotaging" his investment through importation, Dangote has frequently asserted that his refinery has more than enough fuel to meet local fuel needs. He recently revealed that the refinery's capacity, which is currently 650,000 barrels per day, would be increased to 700,000 barrels per day in December.
Dangote announced his retirement as chairman of the Dangote Cement board of directors and as a director on Friday. Anthony Chiejina, the Group Chief Branding & Communications Officer, announced in a statement on Friday that Dangote is stepping down as chairman and leaving the board to concentrate more on the $20 billion refinery, petrochemicals, fertilizer, and government relations.
According to information our correspondent obtained, the refinery is still accepting deliveries of the 4,000 trucks that will be fueled by compressed natural gas as part of its free fuel distribution program, which is set to start on August 1.
Under the plan, filling stations and large users like telecom corporations will receive direct deliveries of gasoline, diesel, and aviation fuel.