Products Made of Petroleum Retailers and marketers have provided explanations for the continued importation of gasoline in spite of the production capacity of the Dangote Refinery and other nearby refineries.CONTINUE FULL READING>>>>>
In an exclusive, Billy Gillis-Harry, the President of the Petroleum Products Retail Outlet Owners Association, and Tunji Oyebanji, the Chairman of the Major Marketers Association of Nigeria, stated that the product’s continued importation was due to competitive pricing, a lack of adequate capacity for producing gasoline, and a fear of healthy market competition.
This coincides with data on foreign commerce from the National Bureau of Statistics, which indicates that at the end of 2024, fuel imports increased by 105% to N15.4 trillion. According to the research, fuel imports reached N930 billion in February 2025 alone, which alarmed downstream industry stakeholders.
Recall that in February 2025, the Dangote Refinery, Port Harcourt, and Warri refineries barely fulfilled half of the country’s petroleum product consumption demand, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority. # The president of Dangote Refinery, however, disputed NMDPRA in a statement last month, insisting that the $20 billion refinery can fully supply Nigeria’s needs for petroleum output.
In the midst of the issue, Nigerians are now in a state of uncertainty after NNPC announced that it has not imported gasoline in 2025. In the meantime, Oyebanji and Gillis-Harry clarified the argument with their observations. Speaking, Gillis-Harry emphasized that petroleum dealers should source their goods from various sources, such as imports, NNPC, and Dangote Refinery.
He claims that in order to prevent a downstream petroleum monopoly, gas retailers would keep sourcing fuel from suppliers at the best prices. He disapproved of a scenario in which the refinery would abruptly lower fuel costs without properly informing its partners and merchants. In the downstream sector of Nigeria, Gillis-Harry noted, it is imperative to provide price stability and robust competition for the benefit of Nigerians.
“Dangote Refinery is not causing retailers to flee.” We support all refineries, but in order to avoid operating a monopolized downstream industry, we support absolute liberation. It is unacceptable for one refinery to be changing pricing without taking merchants into account. “It is unjust that we are unable to purchase a product at N889 and that the prices have been lowered overnight to N825.
“We still purchase gasoline from all profitable sources, including NNPCL, Dangote Refinery, and imports.” According to Oyebanji, the rationale for petroleum imports to fill the void was because local refineries, including Dangote Refinery, were not able to meet all domestic demand. He asserted that no sensible businessman would import if local refineries produced enough to satisfy the home market at competitive costs.
“The 2024 report was distributed today. Why it is being exaggerated in the media as though it is novel is beyond me. It appears to be done to further a specific goal. Local refineries, in my opinion, are not completely satisfying local demand. Therefore, some importation is permitted in order to avoid shortages, but it is incorrect to suggest that this importation is increasing.
“NNPCL, the biggest importer till last year, has acknowledged that they haven’t imported, but this story is being promoted by someone. “No sensible businessman will import if local refineries produce enough to meet local demand and sell at a competitive price.” Remember how NNPC and Dangote refineries lowered the price of gasoline to between N860 and N880 per liter earlier this month and last month?
Since Nigerians currently purchase gasoline at prices ranging from N860 to N970 per liter nationally, the situation has triggered a pricing war among the major players in the downstream sector of the nation. The Dangote Refinery began producing 650, 000 barrels of gasoline per day on October 15, 2024. In November and December of 2024, NNPC simultaneously resumed producing gasoline in the refineries in Port Harcourt and Warri.CONTINUE FULL READING>>>>>
