Marketers reveal what may happen if FG bans petrol imports

• The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised an alarm implicit the projected prohibition connected imported goods
• The relation warned that imposing a broad prohibition connected imported goods, including petroleum products, could origin disruptions
• PETROAN was reacting to the caller argumentation by the Nigerian authorities to prohibition the import of goods that tin beryllium produced locally

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the system for implicit a decade.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned the Nigerian authorities against imposing a broad prohibition connected imported goods, particularly petroleum products.

The marketers disclosed that the determination could origin economical and proviso concatenation issues.

Oil marketers nonstop a connection to the Nigerian authorities against the import ban. Credit: Bloomberg/Contributor
Source: UGC

PETROAN says caller argumentation could origin inflation

PETROAN’s informing comes arsenic the Nigerian authorities said it volition restrict the import of overseas goods that could beryllium produced locally.

PETROAN’s nationalist president, Billy Gillis-Harry, disclosed that the argumentation could exacerbate ostentation and expressed the request for energy security.

He said the association’s interest is the availability and affordability of petroleum products to conscionable Nigeria’s regular depletion volume, estimated astatine implicit 46 cardinal litres of petrol and different petroleum products.

According to him, the state indispensable guarantee its policies bash not jeopardise vigor security, arsenic it could impact the system and Nigerians.

Additionally, the marketers said petrol prices could skyrocket again if the prohibition includes petroleum merchandise prices.

Oil marketers inquire FG to boost refining capacity

PETROAN besides called for accrued concern successful section refining infrastructure and enactment for home industries to boost competitiveness.

Gillis-Harry said that done contented and caution, the relation believes the authorities can execute its plans portion reducing imaginable economical disruptions.

The relation commended the government’s efforts to boost the home system and beforehand section content, stressing the request for cautious information to debar unintended consequences.

PETROAN lists items to beryllium exempted from the ban

According to the association, the Nigerian authorities should guarantee that the argumentation does not pb to shortages oregon terms increases, particularly successful the petroleum industry, arsenic the state is inactive processing its refining capacity.

It asked that captious and delicate products specified arsenic petroleum products, pharmaceuticals, and different indispensable consumables beryllium exempted from the projected prohibition oregon person waivers to guarantee availability.

The Sun reports that the relation said different factors whitethorn origin imports, including the lack of specialised technology, higher prime standards of imported goods, and economies of standard favouring imports.

Dangote blames marketers

The improvement came aft the president of the Dangote Group, Aliko Dangote, accused immoderate lipid marketers and traders of trying to frustrate President Bola Tinubu’s economical reforms.

The billionaire businessman disclosed this astatine the Presidential Villar aft gathering Tinubu connected Monday, May 5, 2025.

Dangote cited his caller fights with cabals successful the lipid assemblage and said his accusations were not directed astatine the enactment of the Nigerian National Petroleum Company Limited (NNPC).

Aliko Dangote calls retired large marketers implicit plans to derail Tinubu's policy. Credit: Bloomberg/Contributor
Source: Getty Images

According to him, the cabals helium referred to are immoderate large lipid marketers who tried to frustrate Tinubu’s efforts to betterment Nigeria’s economy.

Dangote commends Tinubu implicit NNPC leadership

Dangote had said connected May 1, 2025, that helium was inactive warring for the endurance of his $20 cardinal refinery, expressing gratitude to NNPC for their enactment successful addressing the refinery’s needs.

Africa’s richest antheral said his sojourn to the President was to commend him for appointing susceptible hands astatine the NNPC, specifically, Bayo Ojulari, the caller NNPC GCEO, and Ahmadu Kida arsenic non-executive chairman.

Dangote said helium is assured that the caller squad astatine the authorities lipid steadfast volition code the challenges astatine the NNPC, align with the President’s $1 trillion system imaginativeness and reposition the institution for operational excellence and semipermanent sustainability.

BusinessDay reports that Dangote said the caller NNPC absorption comes with capable expertise and managerial acquisition to revive the country’s lipid sector.

The billionaire highlighted that caller events and structural reforms by NNPC amusement a renewed accent connected transparency, efficiency, and accountability.

Dangote to export different indispensable product

Legit.ng earlier reported that Dangote Packaging Limited (DPL) has unveiled plans to summation its export of polypropylene into the African marketplace owed to an accrued accumulation capableness facilitated by caller machinery commissioned successful the 2 manufacturing facilities.

Robert Ade-Odiachi, the president of the company’s committee of directors, revealed the improvement during a strategical committee meeting.

Ade-Odiachi said that the institution is raising its accumulation from 36 cardinal to 56 cardinal polypropylene bags monthly and volition summation the fig successful the coming years.

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Proofreading by Nkem Ikeke, transcript exertion astatine Legit.ng.

Source: Legit.ng