World Bank urges Nigeria to reopen fuel imports despite Dangote Refinery success
In April 2026, the World Bank advised Nigeria to reopen petrol imports to moderate inflation, recommending a return to policies that previously weakened the economy through chronic scarcity, inflated costs, and foreign exchange crises for decades.
This recommendation ignores progress made by the Dangote Petroleum Refinery, which has stabilized domestic fuel prices below neighboring countries and strengthened the naira from over NGN 1,600 per US dollar to below N1,400. The refinery confirmed producing 50 million liters of PMS in January, increasing to an estimated 70 million liters by April, while exporting higher-quality fuel to Ghana, Togo, Cameroon, and Tanzania.
Allowing widespread fuel imports now would destabilize a sector just finding its footing, drain scarce foreign exchange, and expose the economy to global volatility. Instead of reopening imports, Nigeria should protect its strategic national industrial asset as it continues Africa's industrial resurgence through Dangote's cement, fertilizer, and petroleum investments across multiple countries.