No More N898 Per Litre! ! Reactions As New Dangote Petrol Price Emerges, Import Continues
Concerns are escalating within Nigeria’ s oil industry as major marketers persist in importing petrol despite the availability of high- quality fuel from domestic refiners, particularly the Dangote Petroleum Refinery.
The continuous importation of petrol has sparked alarm among local refiners, who emphasize the inferior quality of imported fuel compared to their own products. This concern is compounded by the economic implications of importing fuel, which increases demand for US dollars and puts pressure on the naira.
Domestic refiners argue that their products offer a cleaner, more environmentally friendly alternative to imported fuel. However, marketers continue to prioritize imports, citing economic considerations.
The Dangote refinery has begun supplying petrol to major marketers, including NNPC Retail, 11Plc, TotalEnergies, and AA Rano, at a competitive price. This development is expected to boost competition and potentially reduce petrol prices.
Industry stakeholders are urging the government to implement policies supporting domestic refining and protecting the naira. The success of local refiners hinges on government backing to incentivize production and discourage imports.
Nigeria’ s energy security and economic stability depend on striking a balance between marketers’ , refiners’ , and consumers’ interests. By promoting local refining and discouraging imports, Nigeria can strengthen its currency, reduce foreign exchange dependence, and foster economic growth.
The government must prioritize national interests, ensuring policies align with the country’ s long- term goals. Encouraging domestic refining will create jobs, stimulate economic activity, and enhance energy self- sufficiency.
