World Bank Clarifies Fuel Import Recommendation for Nigeria

The World Bank Group issued a clarification regarding its recommendation to allow the importation of premium motor spirit (PMS) in Nigeria, following significant backlash from critics, including social media activist Dan Bello. This recommendation was part of the April 2026 report released on April 7, which suggested that allowing PMS imports could help address current global energy supply disruptions.

The World Bank emphasized that this position is not a blanket endorsement of fuel imports but is part of a broader strategy aimed at market reform and protecting consumers through a social safety net. The statement also acknowledged ongoing efforts by the Nigerian government and private sector to stabilize fuel supply, particularly in light of recent reforms to enhance domestic refining capacity.

The report noted that the cost of imported petrol is approximately 12% cheaper than local prices, highlighting distortions in the domestic price structure amid soaring global crude prices. The World Bank reiterated the need for careful management to avoid undermining national energy security.