Petroleum retailers and marketers have shed light on why Nigeria continues to import petrol despite the operational capacities of the Dangote Refinery and other local refineries. In an exclusive interview with OUR CORRESPONDENT on Monday, Billy Gillis-Harry, President of the Petroleum Products Retail Outlet Owners Association, and Tunji Oyebanji, former Chairman of the Major Marketers Association of Nigeria, cited concerns over healthy market competition, pricing instability, and insufficient domestic production as key reasons for the ongoing reliance on imports.
This revelation comes as the National Bureau of Statistics (NBS) reported a 105% surge in petrol imports, reaching N15.4 trillion by the end of 2024. Additionally, fuel imports in February 2025 alone hit N930 billion, sparking widespread concern among stakeholders in the downstream sector.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) recently disclosed that the Dangote Refinery, alongside the Port Harcourt and Warri refineries, met only 50% of the nation’s petroleum demand in February 2025. However, the president of Dangote Refinery countered this claim last month, asserting that the $20 billion facility is capable of meeting 100% of Nigeria’s petrol requirements.
Amid the conflicting reports, Nigerians are left in a state of uncertainty, especially as the Nigerian National Petroleum Company Limited (NNPC) confirmed it has not imported petrol in 2025. Gillis-Harry and Oyebanji, in their interview with OUR CORRESPONDENT, provided clarity on the situation.
Gillis-Harry emphasised that retailers source petrol from multiple channels, including the Dangote Refinery, NNPC, and imports. He stated that retailers prioritise the most cost-effective sources to avoid creating a monopoly in the downstream sector. He also criticised sudden price reductions by refineries without prior consultation with retailers, describing such practices as unfair to businesses.
“Retailers are not avoiding Dangote Refinery. We purchase from all refineries, but we advocate for a fully liberalised market to prevent monopolisation. A situation where a refinery slashes prices overnight from N889 to N825 without considering retailers is unacceptable. We will continue to buy from the most profitable sources, whether it’s NNPC, Dangote Refinery, or imports,” Gillis-Harry told OUR CORRESPONDENT.
Oyebanji, on the other hand, explained that local refineries, including Dangote, are not yet meeting 100% of domestic demand, necessitating imports to bridge the gap. He argued that if local refineries produced sufficient quantities at competitive prices, there would be no need for imports.
“The report being circulated refers to 2024 data. I don’t understand why it’s being presented as new information, unless it’s to push a specific agenda. Local refineries are not meeting 100% of demand, so some importation is necessary to prevent shortages. However, the narrative that imports are increasing is misleading. NNPC, the largest importer until last year, has confirmed it has not imported petrol this year. If local refineries can meet demand at competitive prices, no sensible businessman would opt for imports,” Oyebanji stated.
The debate unfolds against the backdrop of recent price adjustments by NNPC and Dangote Refinery, which reduced petrol prices to between N860 and N880 per litre last month. This triggered a price war among major players in the downstream sector, with petrol now selling for between N860 and N970 per litre nationwide.
