Energy expert Dan Kunle has sounded the alarm over Nigeria’s continued importation of petrol and diesel, calling it a national disservice despite the operational capacity of the Dangote Petroleum Refinery.
Speaking on Arise TV on Sunday, Kunle expressed frustration that the Nigerian National Petroleum Corporation (NNPC) Limited and certain marketers have spent a staggering N5.5 trillion on fuel imports in just four months, even as local refining capacity exists.
He likened the situation to the infamous ‘cement Armada’ scandal of the 1970s, when Nigeria’s ports were paralyzed by excessive cement imports, leading to years of congestion and financial waste.
“I was expecting a transition following the Federal Executive Council’s (FEC) decision in October 2024 to allocate local crude to domestic refineries, especially the Dangote Refinery, which has the technical capacity to meet demand.
“But instead, we are still seeing an importation frenzy, raising serious concerns.
“Is there an attempt to flood the market with substandard fuel, frustrate Dangote Refinery, or protect vested interests?” Kunle questioned.
He stressed that Nigeria should be prioritizing local refining rather than relying on imports, especially when countries like the United States fiercely protect their domestic industries to safeguard their economies.
According to him, the Dangote Refinery, which is already refining 550,000 barrels per day (bpd), has the potential to ensure energy security, something the regulatory authorities have failed to address for years.
Kunle urged President Bola Tinubu to take decisive action and demand a clear transition timetable from regulators, outlining when Nigeria will shift from being an importer to a net exporter of refined products.
He emphasized that treating a multi-billion-dollar investment like Dangote Refinery as an enemy would discourage future investors.
“The Dangote Refinery is a national strategic asset. There’s no need for legal battles.
“The government must step in and demand a transition plan from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“If the president remains aloof, it will harm the country. No new investments will come if we treat a crucial investment like Dangote as an adversary. The importers are the real enemies,” he warned.
Kunle also pointed to the reported revival of the Port Harcourt and Warri refineries, saying Nigeria has every reason to move beyond fuel import dependence.
He insisted that a strong, locally driven refining industry would save the country billions, create jobs, and guarantee energy security.
He called on President Tinubu to uphold his administration’s directive on local refining and dismantle the entrenched fuel importation racket that is bleeding the nation’s economy.
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