President of the Dangote Group, Alhaji Aliko Dangote, has called on President Bola Tinubu to extend the Federal Government’s ‘Nigeria First’ policy to include refined petroleum products.
Speaking at the Global Commodity Insights Conference on West African Refined Fuel Markets, co-hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority and S&P Global Insights, Dangote made a direct appeal for petrol, diesel, and other refined products to be placed on the growing list of imports restricted under the policy.
Dangote argued that the continued importation of fuel is undermining Nigeria’s efforts to build a viable domestic refining industry, discouraging further investments and slowing economic growth. “The importation of fuel into Nigeria is killing local refining and discouraging further investments in the sector and even the economy,” he declared.
Referring to protectionist policies adopted by nations like the United States, Canada, and EU countries, he urged African governments to adopt similar strategies. “Governments across Africa must protect domestic producers from unfair competition, just as other advanced economies have done,” he said.
He further held that the ‘Nigeria First’ directive which mandates government agencies to prioritise locally produced goods and services, should not exclude the oil sector. “The Nigeria First policy announced by His Excellency, President Bola Tinubu, should apply to the petroleum product sector and all other sectors,” Dangote said.
The policy, introduced in May, aims to support local production by prohibiting government ministries, departments, and agencies from importing items that can be sourced within Nigeria.
