Marketers Speak Amid Plans to Ban Fuel Imports as New Petrol Prices Emerge

• The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised an alarm over the proposed ban on imported goods
• The association warned that imposing a blanket ban on imported goods, including petroleum products, could cause disruptions
• PETROAN was reacting to the new policy by the Nigerian government to ban the import of goods that can be produced locally

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned the Nigerian government against imposing a blanket ban on imported goods, especially petroleum products.

The marketers disclosed that the move could cause economic and supply chain issues.

PETROAN says new policy could cause inflation

PETROAN’s warning comes as the Nigerian government said it will restrict the import of foreign goods that could be produced locally.

PETROAN’s national president, Billy Gillis-Harry, disclosed that the policy could exacerbate inflation and expressed the need for energy security.

He said the association’s concern is the availability and affordability of petroleum products to meet Nigeria’s daily consumption volume, estimated at over 46 million litres of petrol and other petroleum products.

According to him, the country must ensure its policies do not jeopardise energy security, as it could affect the economy and Nigerians.

Additionally, the marketers said petrol prices could skyrocket again if the ban includes petroleum product prices.

Oil marketers ask FG to boost refining capacity

PETROAN also called for increased investment in local refining infrastructure and support for domestic industries to boost competitiveness.

Gillis-Harry said that through wisdom and caution, the association believes the government can achieve its plans while reducing potential economic disruptions.

The association commended the government’s efforts to boost the domestic economy and promote local content, stressing the need for careful consideration to avoid unintended consequences.

PETROAN lists items to be exempted from the ban

According to the association, the Nigerian government should ensure that the policy does not lead to shortages or price increases, especially in the petroleum industry, as the country is still developing its refining capacity.

It asked that critical and sensitive products such as petroleum products, pharmaceuticals, and other essential consumables be exempted from the proposed ban or have waivers to ensure availability.

The Sun reports that the association said other factors may cause imports, including the absence of specialised technology, higher quality standards of imported goods, and economies of scale favouring imports.

Dangote blames marketers

The development came after the president of the Dangote Group, Aliko Dangote, accused some oil marketers and traders of trying to frustrate President Bola Tinubu’s economic reforms.

The billionaire businessman disclosed this at the Presidential Villar after meeting Tinubu on Monday, May 5, 2025.

Dangote cited his recent fights with cabals in the oil sector and said his accusations were not directed at the leadership of the Nigerian National Petroleum Company Limited (NNPC).

According to him, the cabals he referred to are some major oil marketers who tried to frustrate Tinubu’s efforts to reform Nigeria’s economy.

Dangote commends Tinubu over NNPC leadership

Dangote had said on May 1, 2025, that he was still fighting for the survival of his $20 billion refinery, expressing gratitude to NNPC for their support in addressing the refinery’s needs.

Africa’s richest man said his visit to the President was to commend him for appointing capable hands at the NNPC, specifically, Bayo Ojulari, the new NNPC GCEO, and Ahmadu Kida as non-executive chairman.

Dangote said he is confident that the new team at the state oil firm will address the challenges at the NNPC, align with the President’s $1 trillion economy vision and reposition the company for operational excellence and long-term sustainability.

BusinessDay reports that Dangote said the new NNPC management comes with enough expertise and managerial experience to revive the country’s oil sector.

The billionaire highlighted that recent events and structural reforms by NNPC show a renewed emphasis on transparency, efficiency, and accountability.

Dangote to export another essential product

Legit.ng earlier reported that Dangote Packaging Limited (DPL) has unveiled plans to increase its export of polypropylene into the African market due to an increased production capacity facilitated by new machinery commissioned in the two manufacturing facilities.

Robert Ade-Odiachi, the chairman of the company’s board of directors, revealed the development during a strategic board meeting.

Ade-Odiachi said that the company is raising its production from 36 million to 56 million polypropylene bags monthly and will increase the figure in the coming years.

Proofreading by Nkem Ikeke, copy editor at Legit.ng.

Source: Legit.ng