Energy expert, Dan Kunle has raised the alarm over the massive importation of petrol and diesel by NNPC Limited and oil marketers, warning that it undermines Nigeria’s economic progress and sabotages local fuel refining efforts.
Speaking on Arise TV on Sunday, Dan Kunle compared the ongoing situation to the infamous ‘Cement Armada’ of the 1970s, where an influx of cement shipments caused chaos at Nigeria’s ports.
Recent reports indicate that NNPC and oil marketers spent N5.5 trillion on fuel imports in just four months, despite the Dangote Petroleum Refinery having the capacity to meet domestic demand.
Kunle expressed deep disappointment that, despite President Bola Tinubu’s directive and the Federal Executive Council’s decision to allocate local crude to domestic refineries, government agencies continue to allow unchecked fuel imports.
“This is a full import armada,” Kunle stated. “Is this an attempt to frustrate Dangote Refinery? The refinery is operational, already refining 550,000 barrels per day and producing high-quality products. The continued importation is completely unnecessary. The president must act now to end this petrol import racket.”
He emphasized that protecting local refining capacity is crucial for energy security, drawing comparisons to the United States, where domestic industries receive strong government backing. He urged President Tinubu to demand a clear transition timetable from regulators, outlining when Nigeria will end fuel imports and become a net exporter of refined petroleum products.
“The Dangote Refinery is a strategic national asset,” Kunle asserted. “The government must intervene. If the president stays aloof, it will hurt the country. Investors will not come if we treat a game-changing investment like Dangote’s as an enemy. The real enemies are the importers.”
With the revival of the Port Harcourt and Warri refineries, Kunle insists Nigeria should be moving towards self-sufficiency in refined petroleum products.
As fasnewsng.com continues to track developments, all eyes are on President Tinubu’s administration to break the cycle of fuel import dependency and support local refining.
By Lekan Olofinsusi
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