Energy Expert Warns of ‘Petrol Import Armada,’ Urges President Tinubu to End Fuel Racketeering and Prioritise Local Refining

Renowned energy expert Dan Kunle has called on President Bola Tinubu to take decisive action against what he describes as a “petrol import racket” that continues to undermine Nigeria’s economic interests. Kunle warned that the ongoing large-scale importation of petrol and diesel by the Nigerian National Petroleum Corporation (NNPC) Limited and certain oil marketers, despite the operational capacity of the Dangote Petroleum Refinery, is reminiscent of the infamous “Cement Armada” scandal of the 1970s.

Speaking on Arise TV on Sunday, Kunle expressed deep concern over recent reports that NNPC and oil marketers spent a staggering ₦5.5 trillion on fuel imports in just four months, despite Nigeria’s commitment to refining its crude locally. He questioned why, months after the Federal Executive Council (FEC) directed the allocation of local crude oil to domestic refineries, the government still allows massive fuel imports that could destabilize the refining sector.“This situation mirrors the Cement Armada crisis—an avoidable economic blunder. With Dangote Refinery refining 550,000 barrels per day (bpd) and capable of meeting domestic fuel needs, why are we still flooding the market with imported fuel? Who is benefiting from this racket?” Kunle asked.

Kunle warned that the continued importation of petroleum products might be a deliberate effort to undermine the Dangote Refinery and flood the market with substandard fuel. He described this as an economic sabotage that not only wastes foreign exchange but also discourages private sector investments in Nigeria’s energy sector.

Urgent Call for Presidential Intervention

Kunle urged President Tinubu to take a firm stance against the vested interests driving unnecessary fuel imports. He emphasized that if the government fails to protect local refining capacity, foreign investors will lose confidence in Nigeria’s business environment.“The U.S. government actively protects its industries to boost economic growth. Why should Nigeria be any different? The president must intervene by demanding a clear transition timetable from regulatory agencies like the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to phase out fuel imports and ensure Nigeria becomes a net exporter of refined petroleum products,” he stated.

He further advised the federal government to remove bureaucratic and legal roadblocks that hinder the full utilization of Dangote Refinery and the revival of the Port Harcourt and Warri refineries. He warned that failure to act decisively would send negative signals to investors and hamper economic growth.“This refinery is a national asset. There’s no need for unnecessary court battles. The government must step in and end this fuel importation madness. If we continue treating a strategic investment like Dangote Refinery as an enemy, we are sabotaging Nigeria’s economic future. The real enemies are the importers benefiting from this racket,” Kunle asserted.

With the reported revival of state-owned refineries and Dangote Refinery’s growing production capacity, Kunle concluded that Nigeria has no excuse to remain dependent on imported fuel. He called for immediate reforms to align with the country’s energy security goals and reduce wasteful spending on petroleum imports.