Alhaji Aliko Dangote, Africa’s richest man and Chairman of Dangote Industries, has called on President Bola Tinubu to include refined petroleum products like petrol and diesel in the Federal Government’s 'Nigeria First' policy, which restricts government agencies from importing goods and services available locally.
The policy, introduced in May 2025, requires justification and a waiver from the Bureau of Public Procurement for procuring foreign products when local alternatives exist.
Speaking at the Conference on West African Refined Fuel Markets in Abuja, organized by the Nigerian Midstream and Downstream Petroleum Regulatory Authority and S&P Global Insights, Dangote highlighted the threat posed by the dumping of cheap, often substandard petroleum products in Nigeria.
“The Nigeria First policy should apply to the petroleum sector and all others,” he said, noting that discounted products, particularly from Russia, are flooding African markets at prices as low as 60 cents per litre, compared to $1 net of taxes elsewhere.
He argued that these imports, often blended to toxic levels unacceptable in Europe or North America, undermine local refineries operating on full crude pricing.
“This unfair competition creates an unlevel playing field,” Dangote stated, pointing out that Nigeria’s petrol prices are cheaper than Saudi Arabia’s despite local production capabilities.
He urged African governments to emulate protective measures taken by the United States, Canada, and the European Union to shield domestic producers from predatory pricing.However, petroleum marketers have opposed the proposal, cautioning the Federal Government against including refined products in the import ban.
They argue that such a move could disrupt supply chains and increase fuel prices, further straining consumers.
The call comes amid ongoing debates about Nigeria’s energy security and economic self-sufficiency, with posts on X reflecting polarized views.
Some Nigerians support Dangote’s push for local industry protection, while others fear it could lead to higher costs. The Federal Government has yet to respond to Dangote’s appeal as stakeholders await further policy developments.
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