Nigerian Experts Reject World Bank's Fuel Import Advice

On April 7, 2023, the World Bank advised Nigeria to prioritize fuel imports, claiming it would be cheaper than domestically refined products. This recommendation has sparked significant backlash from Nigerian marketers and energy experts, who argue that it undermines local refining capacity and could harm the economy.

The World Bank clarified that its position was part of a broader reform strategy aimed at consumer protection and social welfare, not an outright endorsement of fuel imports. Experts criticized the recommendation, especially amid ongoing global supply disruptions linked to geopolitical tensions.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) expressed opposition to increasing fuel imports, asserting that Nigeria should focus on building a flexible and competitive domestic fuel supply system. IPMAN President Maigandi Okon highlighted the importance of strengthening local refining capacity to stabilize fuel supply and reduce reliance on imports, emphasizing that the Dangote Refinery should be supported to encourage investment in the sector.