The Digest:
Oil marketers have stated that the resumption of petrol and diesel import licences by the regulator is a strategic move to close domestic supply gaps and prevent scarcity. They explained that local refineries, including Dangote, cannot yet meet Nigeria's total fuel demand, especially as Dangote undergoes a major three-year expansion. The marketers framed the imports as a necessary "stabilisation tool" to ensure market liquidity while domestic refining capacity scales up. Dangote Refinery has clarified it is not importing finished products but feedstocks for further processing, and warned that coastal import logistics could significantly raise pump prices.
Key Points:
- Consumers face continued exposure to potential fuel scarcity and price volatility driven by supply dynamics.
- The nation bears the foreign exchange and logistical costs of imports, impacting inflation and currency stability.
- Importers regain a temporary market role, while domestic refiners work to achieve full operational capacity.
- The decision highlights the ongoing gap between policy aspirations for self-sufficiency and current refining output.
- The timing addresses immediate supply risks, acknowledging that demand cannot wait for refinery upgrades to be completed.
The import resumption is a pragmatic, short-term fix that underscores the persistent challenge of achieving sustainable fuel self-sufficiency in Nigeria.
Sources: Nairametrics
