Fuel marketers in Nigeria have raised concerns over the government’s potential ban on fuel imports, warning that it could lead to significant price hikes and shortages.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) have both emphasized that the nation’s refining capacity is not yet sufficient to meet local demand.

Hammed Fashola, National Vice President of IPMAN, stated, “I don’t think the government should be thinking in the direction of banning the importation of petroleum products… some of the refineries are still under construction. It’s the only Dangote refinery that we can boast of for now in Nigeria.”

The concerns come as President Bola Tinubu’s administration pushes forward with the “Nigeria First Policy,” which aims to reduce reliance on foreign goods and services, including fuel.

However, marketers argue that local refineries must be fully operational before any import ban is considered.Billy Gillis-Harry, National President of PETROAN, also voiced caution, stating, “Our primary concern is the availability and affordability of petroleum products in Nigeria… We must ensure that our policies do not compromise energy security.”

Both associations are urging the government to avoid hasty decisions that could disrupt fuel availability, emphasizing that a well-planned and gradual transition to local sourcing of petroleum products is necessary to avoid economic shock.

As Nigeria continues to develop its refining capacity, including the Dangote Refinery, stakeholders are calling for increased investment in local infrastructure to ensure the country can meet its daily fuel consumption without relying on imports.