Impact Of Banning Fuel Imports On Nigeria’s Economy

Aliko Dangote has urged the Nigerian government to halt petrol and diesel imports, arguing they are undermining local refineries and the wider economy. Citing his refinery’s recent performance over 1.3 billion litres of petrol exported in under two months he insists Nigeria has the capacity to meet its own demand if government policy fully backs domestic production.

Fuel marketers, however, caution that banning imports could hand Dangote a monopoly, driving up prices and creating supply risks. While such a move might strengthen local refining, it could also trigger inflation and limit competition. The real challenge lies in finding a balance between promoting local industry and protecting Nigerian consumers.