World Bank’s petrol imports advisory to Nigeria is attracting more condemnations as Nigeria’s local refineries continue to meet demands and have excess for export.
The World Bank, in its Nigeria Development Update released on April 7, recommended that Nigeria should prioritise petroleum imports.
According to the World Bank, imported fuel is cheaper than the domestically refined version, with Dangote Refinery already registering its footprint in petroleum export worldwide.
Days later, the World Bank deleted from its website the Nigerian Development Updates report and clarified that its recommendation was not a blanket stamp on fuel importation but a broader one on energy security.
“In the case of Nigeria, the focus should be to provide targeted support to support the vulnerable people through their functioning social safety net system, and the World Bank Group stands ready to step up its existing support,” the Bank had said.
The importation advisory has continued to draw criticism from several industry stakeholders put the World Bank’s suggestions under intense scrutiny.
“The submission by CPPE is that instead of talking about increasing importation, we should focus on domestic production, energy security, self-reliance and conservation of foreign exchange. Focus should be on supporting private refineries to cover importation gaps, not the World Bank’s model of importation,” former Director General of Lagos Chamber of Commerce, Muda Yusuf, told The ICIR.
He stressed that countries that are affected by the blockade of Strait of Hormuz are currently going through crises.
“Dangote and other modular refineries must be supported for energy security, and not importation. There’s a need to protect domestic production and the domestic economy. As we speak now, many farmers haven’t recovered from temporary importations that were done years ago,” he added.
He noted that the World Bank’s focus should be to give technical and technological support to Nigeria to increase local production.
Already, Dangote Petroleum Refinery & Petrochemicals has recorded a major milestone in Nigeria’s energy history. It exported 44,000 barrels per day (b/d) of gasoline in March 2026.
This record has positioned the country as a net exporter of petrol for the first time, with a surplus of about 3,000 b/d.
The landmark development marks a decisive turnaround for Nigeria, Africa’s largest oil producer, which for decades depended heavily on imported refined petroleum products.
Industry analysts say the export surge, driven by rising refinery output, is expected to generate significant foreign exchange inflows, easing pressure on the forex market and supporting macroeconomic stability.
“This is a good development for the deregulated market in Nigeria as local demands are almost being met without complete reliance on imports,” a professor of energy economics, Adeola Adenikinju, told The ICIR.
In a notable expansion of its international footprint, the refinery also exported gasoline to East Africa for the first time, shipping a 317,000-barrel cargo to Mozambique.
The move reflects growing regional demand as buyers diversify supply sources away from the Middle East amid ongoing disruptions. Another gasoline cargo is scheduled for delivery to Beira, Mozambique, in April, informed sources at the refinery told The ICIR.
Data from market intelligence firm Kpler showed that Nigeria’s gasoline imports dropped sharply to 41,000 b/d in March—the lowest level on record.
Meanwhile, crude supply to the refinery rose to about 565,000 b/d, the second-highest intake since the 650,000 b/d-capacity facility began operations in late 2023.
The figures indicate strong processing rates and improving product yields.
Analysts say Nigeria’s transition from a major petrol importer to an exporter is set to reshape regional trade flows and intensify competition in global fuel markets.
