A coalition of civil society organizations has called for the suspension of the import of petroleum products to protect the country's local refineries.
Coalition spokesperson Segun Adebayo made the call on Wednesday during a press conference in Abuja.
Adebayo, flanked by other members of the coalition, said “the continued importation of petroleum products by marketers despite the operations of the Dangote refinery is an act of sabotage against the Nigerian economy.”
The group described the situation in the downstream sector as akin to a cabal that prioritizes profits over the country's collective prosperity.
“We are concerned about a small but powerful cabal that has prioritized self-interest in imposing policies that weigh on our economy, particularly with regard to the importation of Premium Motor Spirit (PMS),” Adebayo said.
Concerns
This is the latest in a series of problems that have been developing in the downstream sector since the Dangote Refinery was incorporated.
In recent months, the refinery, owned by Aliko Dangote, has been competing with other players in the sector, including the state-owned Nigerian National Petroleum Company Limited (NNPC Ltd) and the regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority. (NMDPRA).
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Despite the availability of Dangote Refinery products in the market, prices have been a major source of dispute.
The recent dispute has been between the refinery and members of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), who have expressed their willingness to continue importing rather than purchasing from the Dangote Refinery.
A few days ago, Dangote Refinery accused marketers of importing substandard products into the market, claiming that their prices are globally competitive.
The company's group brand and communications director Anthony Chiejina said an international trading company recently contracted a warehouse next to the Dangote refinery, intending to use it to blend substandard products to be dumped on the market to compete with the highest quality ones from the Dangote refinery. -quality production.
PETROAN has responded, accusing Dangote Refinery of trying to monopolize the market.
Across the country, petrol is sold for more than N1,000 per litre, which is believed to be contributing to inflationary pressure.
Pleading
At the briefing, Adebayo said the federal government must protect local refineries and workers in the sector, adding that “the importation of PMS not only restricts job creation but also diminishes the growth potential of industries allied with refining”.
He called on President Tinubu to act quickly so that other investors are not deterred or excluded from investing in the petroleum downstream sector.
“Investors like Aliko Dangote have taken bold steps to establish local refineries like the Dangote Refinery, which promises to achieve fuel independence. However, this cabal has actively sabotaged such initiatives, blocking avenues for local investors and discouraging economic independence in the refining sector.
“We are confident that President Tinubu’s administration will act decisively, safeguarding Nigeria’s economy by holding this cabal accountable and encouraging local refining through naira-first policies,” he said.