CPPE Defends Dangote Refinery Against Monopoly Claims

The Centre for the Promotion of Private Enterprise (CPPE), under the leadership of Dr. Muda Yusuf, has criticized the portrayal of Dangote Refinery as a monopolistic threat, describing such views as overly simplistic and fundamentally flawed.

In a press statement titled "Import Liberalization: Risk of Deindustrializing Nigeria," Yusuf emphasized that the refinery does not prevent other investors from entering the sector. He noted that the narrative undermines the significant investment made by Dangote in the refinery, which is unprecedented in Africa.

Yusuf argued that the focus should be on fostering competition and supporting domestic refining investments rather than encouraging indiscriminate import liberalization, which could lead to deindustrialization. He highlighted the risks of excessive liberalization, citing the negative impact of large-scale food imports on local agricultural value chains.

Yusuf called for urgent measures to strengthen local production capabilities and reduce import dependence to ensure Nigeria's economic resilience.