The Manufacturers Association of Nigeria has strongly opposed the recommendation by the World Bank urging Nigeria to reconsider reinstating petrol import licences to ilise fuel supply.
Reacting to the April 2026 Nigeria Development Update and its subsequent clarification, MAN’s Director General, Segun Ajayi Kadir, described the proposal as counterproductive and harmful to Nigeria’s long term economic goals. He argued that reopening the market for imported Premium Motor Spirit would undermine local industry and reverse progress made in strengthening domestic refining capacity.
According to Ajayi Kadir, relying on fuel importation as a solution to inflationary pressure is structurally flawed. He warned that such a move would deepen foreign exce challenges, export local jobs, and weaken Nigeria’s push toward industrialisation. He stressed that the policy could trap the country in a cycle of economic dependency, where wealth is transferred الخارج while poverty is imported.
MAN also criticised the World Bank’s position that restricting import licences reduces competition and contributes to higher fuel prices. The association maintained that this view overlooks key macroeconomic realities, including the pressure on foreign exce reserves and the importance of achieving energy security amid global supply disruptions.
Instead of increasing imports, MAN advocated for homegrown solutions to address the energy and inflation challenges. These include strengthening the naira for crude policy, accelerating the adoption of compressed natural gas, supporting the productive sector, and investing in critical power infrastructure.
The group further warned that allowing large scale fuel importation could discourage investment in local refineries, including projects like the Dangote Refinery, which has begun contributing to domestic fuel supply. Such a shift, it said, would erode recent gains and delay Nigeria’s path to energy independence.
Reaffirming its stance, MAN urged the Federal Government to prioritise policies that promote local production and industrial growth. It cautioned against adopting external recommendations that may weaken domestic capabilities, insisting that sustainable economic development depends on producing and consuming locally.
The association concluded that protecting Nigeria’s manufacturing base remains essential to achieving le growth, job creation, and long term economic resilience.
You May Like
Leave a comment