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End Petrol Import Racket, Prioritise Local Refining – Energy Expert To Tinubu
Energy expert, Dan Kunle is of the view that continued importation of petrol and diesel by the Nigerian National Petroleum Corporation Limited (NNPC Ltd) and certain marketers, despite the Dangote Petroleum Refinery’s capacity to meet domestic demand, is a disservice to Nigeria’s economy.
He was reacting to recent reports that the NNPC Ltd, and other oil marketers spent up to N5.5tn importing petrol, diesel into Nigeria over a four-month period.
Kunle bared his mind on a programme on Arise TV on Sunday, monitored in Lagos by Biztellers and likened the massive importation of petrol and diesel by the NNPC Ltd and some marketers of recent, to the notorious ‘cement Armada’ — a scandal from the 1970s, during Nigeria’s oil boom, where hundreds of cement-laden ships flooded the ports, causing years of congestion.
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He expressed dismay that, despite President Bola Ahmed Tinubu’s directive and the Federal Executive Council’s (FEC) decision to allocate local crude oil to domestic refineries, relevant government agencies were disregarding the directives with no consequences.
In his words, “I was expecting a transition following the Federal Executive Council’s decision in October 2024 to allocate local crude to domestic refineries, with Dangote Refinery being the key player due to its technical capacity. However, the situation hasn’t changed, and we’re still seeing a massive influx of imported fuel.
“It’s still a full import Armada, similar to the cement Armada. The level of imports we’re witnessing is unprecedented, raising serious concerns about what’s really going on. Is it an attempt to flood the market, introduce substandard fuel into Nigeria, and possibly frustrate Dangote Refinery?
“The mistake here is that Dangote Refinery is operational, already refining 550,000 bpd and producing high-quality products. This importation is completely unnecessary. It’s time to urge the president to act and end this petrol import racket once and for all.”
According to Kunle, it defies logic for certain individuals to continue pushing for imports, especially when countries like the United States of America are protecting domestic industries to boost their own economies.
He added that the Dangote Refinery could ensure energy security, something the regulatory authorities had neglected for years.
He called on President Tinubu to demand a transition timetable from the relevant authorities outlining when Nigeria will shift from being an importer of refined products to a net exporter.
Stressing that Dangote Refinery had become a strategic national asset, Kunle maintained that it had become incumbent upon the government to remove obstacles to its smooth operation.
“The Dangote Refinery is a national strategic asset. There’s no need for a court case. The Federal Government should step in. We don’t need a legal battle; the government should ask the NMDPRA for a transition timetable to move us from importing petrol to self-sufficiency.
“If the president stays aloof, it will harm the country. No new investments will come if you treat an investment like Dangote’s as an enemy. The importers are the true enemies,” he asserted.
Kunle stressed that with Dangote Refinery’s capacity and the reported revival of the Port Harcourt and Warri refineries, Nigeria should be transitioning from reliance on oil imports to becoming a net exporter of refined petroleum products.
Over one million Nigerians nationwide will receive a 10kg bag of rice each, with the Aliko Dangote Foundation (ADF) distributing the staple food as part of the 2025 Annual National Food Intervention Project.
The initiative, which commenced on Thursday would is estimated at a whooping cost of N16 billion.
During the flag-off of the nationwide distribution in Kano, Chairman of the Foundation, Alh Aliko Dangote, said the distribution of one million bags of 10kg rice to the poor and vulnerable Nigerians in the 774 Local Government Areas (LGA) in Nigeria was in line with the core values of his businesses and the ADF.
Dangote, who was represented by his daughter, Mariam Aliko Dangote said, “This annual initiative, which embodies compassion, solidarity, and shared responsibility, is part of our response to the current economic challenges facing our nation. It reflects our commitment to supporting our communities in line with our core values.”
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He highlighted that the Foundation was kicking off the distribution in Kano State, after which it will proceed to other states, assuring that all arrangements are in place to ensure the food reaches those who need it most in all the LGAs of Nigeria.
Dangote, reputed to be Africa’s wealthiest person opined that food remains a basic human necessity, and this is why the ADF adopted the practice of embarking on a food distribution programme across Nigeria.
“We are collaborating with state governments to ensure that the food reaches the most vulnerable individuals in each state,” he added.
According to Dangote the ADF focuses on improving the living conditions of Nigerians through support for projects which tackle hunger and water supply problems, strengthen the quality and scope of health and education, and promote economic empowerment at the community level.
“Your excellency, I believe that today’s event will help in tackling hunger and helping the most vulnerable people in breaking their fast. We are playing our role in enhancing the living conditions of our people. I urge other industrialists and firms to lend a helping hand in combating hunger through programmes and initiatives that will place food on the tables of vulnerable Nigerians. This job should not be left to the government alone, rather we need a public private partnership that will help us in fighting the scourge.
“I commend the government at all levels for their efforts at addressing the food crisis. I am certain that with time, we shall overcome these challenges, therefore let us support the government to achieve its target of a better life for Nigerians, “he said.
On his part, Kano State Governor, Abba K. Yusuf, who flagged off the National Food Intervention Programme commended the good gesture and said the intervention reflects the unwavering commitment of Alh Dangote in addressing poverty and hunger in Nigeria.
The Governor, who was represented by his Deputy, Comrade Aminu Abdulsalam Gworzo said 120,000 bags of 10kg rice will be distributed across the 44 Local Government Areas of the state.
He described Alh Dangote as humane, adding that: “A similar event took place last year where he personally oversaw the distribution of food stuff to the poor in this very arena.”
To ensure transparency in the distribution process, he said the state government has set up a committee comprising of relevant ministries, CSOs, religious leaders, departments and agencies, local authorities, the Hisbah Board and security agencies.
Managing Director and Chief Executive Officer of the Aliko Dangote Foundation, Zouera Youssoufou, said the Annual National Food Intervention Project is a way of giving back, and supporting governments in fighting poverty and hunger in Nigeria.
She said that Alh Dangote is passionate about philanthropy and committed to ensuring that hunger is wiped out or reduced to the minimum in Nigeria.
“We are going to other states to distribute the products, but we’ve just flagged off in Kano,” she told newsmen on the sideline of the Kano Government House, venue of the flag off.
The Deputy Commander-General of Hisbah Board in Kano, Dr. Mujahid Aminudeen, thanked the ADF for the initiative, urging more Nigerians to emulate Alh Dangote in the humanitarian cause.
He said the Hisbah Board will ensure that the products reach the targeted beneficiaries.
One of the beneficiaries, Ibrahim Ahmed, speaking on behalf of others thanked Alh Dangote for his large heart saying the gift would go a long way in reducing food pressures on them especially during the Ramadan while also praying God to continue to help him in his businesses.
Recall that the ADF has been at the forefront of tackling and ameliorating the impact of natural disasters and health challenges in Nigeria and the rest of the world.
The ADF donated N153million to boost Nigeria’s fight against Ebola Virus Disease in 2014, $3million to the African Union (AU) to help combat the scourge, and N66.66 million to install thermal scanning systems and cameras at Nigeria’s 4 international airports.
During the COVID-19 pandemic, we donated N2billion to the CACOVID Fund, a Private Sector task force in partnership with the Federal Government, the Nigeria Centre for Disease Control (NCDC) and the World Health Organisation (WHO) with the sole aim of combating Coronavirus (COVID-19) in Nigeria.
In support for education, we donated a N1.2bn modern business school edifice to the Bayero University, Kano, a fully equipped 2,160-bed capacity hostel complex to the Ahmadu Bello University, Zaria and a N300 million building to University of Ibadan Business School.
Beyond the shores of Nigeria, the ADF has also recorded milestones with a donation of $1million, to lift victims of two earthquakes that devastated Nepal.
The Central Bank of Nigeria (CBN) is under pressure to suspend its recently introduced increase in Automated Teller Machine (ATM) transaction charges due to the country’s worsening economic conditions.
During Tuesday’s plenary session, Marcus Onobun, a lawmaker representing Esan Central/Esan West/Igueben Federal Constituency in Edo State, raised concerns over the policy through a motion of urgent public importance.
He noted that the CBN’s directive not only increases withdrawal fees but also removes free ATM transactions for customers using other banks’ machines, adding to the financial strain on Nigerians.
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According to the new regulations, customers withdrawing from their own bank’s ATMs will still enjoy free withdrawals.
However, those using other banks’ ATMs will now be charged N100 for withdrawals of N20,000 within a bank’s premises. At off-site ATMs, such as those in shopping malls or markets, the charge remains N100, but with an added N500 surcharge.
Onobun, a member of the Peoples Democratic Party (PDP), argued that Nigerians are already struggling with economic difficulties, including high inflation, rising fuel costs, increased electricity tariffs, and multiple banking fees.
He warned that the additional charges could further discourage financial inclusion, particularly among low-income earners, contradicting the CBN’s own agenda.
“The banking sector continues to record significant profits, yet customers are being burdened with more charges without any improvement in service delivery or infrastructure. This is unfair and unacceptable,” he stated.
Following his motion, Speaker Tajudeen Abbas put the matter to a voice vote, and lawmakers overwhelmingly supported it.
As a result, the House of Representatives called on the CBN to immediately halt the implementation of the policy until further consultations are held with relevant banking and finance committees.
The Nigerian National Petroleum Company Limited (NNPC Ltd) is already emplacing an new naira for crude contract with the Dangote Petroleum Refinery and Petrochemicals, because the initial contract was for six months which expired in March 2025.
This clarification was made in a statement in Abuja by the Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye on Monday.
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According to Soneye, the NNPC Limited has noted recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC Ltd. and Dangote Refinery.
To clarify, the contract for the sale of crude oil in Naira was structured as a six-month agreement, subject to availability, and expires at the end of March 2025. Discussions are currently ongoing towards emplacing a new contract.
Under this arrangement, NNPC Ltd. has made over 48 million barrels of crude oil available to Dangote Refinery since October 2024. In aggregate, NNPC Ltd. has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023.
NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions.
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