Energy Experts and Marketers Reject World Bank Proposal to Resume Fuel Imports; Back Dangote Refinery Capacity

Energy experts and IPMAN reject World Bank advice to import petrol, choosing to support Dangote Refinery and local production amidst global supply shocks.

By: AXL Media

Published: Apr 14, 2026, 3:17 AM EDT

Source: Information for this report was sourced from Naija News

Rejecting External Economic Interference

Petroleum marketers and energy experts have issued a unified rejection of a World Bank proposal advising Nigeria to reopen its borders for fuel importation. The Washington-based institution recently suggested that imported petrol is more cost-effective than domestically refined products, a claim that sparked immediate backlash across the industry. While the World Bank later deleted the report and clarified its position as a "reform strategy," Nigerian stakeholders remain wary of international institutions attempting to dictate domestic energy policy.

Protecting Local Refining During Global Volatility

Energy analysts, including Dr. Muda Yusuf of the Centre for the Promotion of Private Enterprise, argue that relying on imports is particularly dangerous given the current geopolitical climate. With the U.S.-Iran conflict entering its seventh week, global fuel markets are experiencing significant supply disruptions and price volatility. Experts maintain that strengthening domestic refining capacity is the only way to shield the Nigerian economy from these external shocks and ensure long-term energy security.

The "Nigeria First" Policy vs. Liberalization

The debate has highlighted a divide between those advocating for total market liberalization and proponents of President Bola Tinubu’s "Nigeria First" policy. While the Petroleum Products Retail Outlets Owners Association supported the World Bank’s call for import competition, the Independent Petroleum Marketers Association of Nigeria (IPMAN) stands firmly behind local refineries. IPMAN President Abubakar Maigandi noted that the Dangote Refinery is currently selling petrol at approximately ₦1,200 per litre, providing a high-quality, local alternative that keeps capital within the country.