Local refiners and marketers disagree over future of fuel imports
Local refinery operators under the Crude Oil Refineries Association of Nigeria (CORAN) are at odds with fuel marketers regarding the continued importation of petroleum products. CORAN is urging the Federal Government to restrict imports and prioritise domestic refining, while marketers, represented by the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), want the import window to remain open. The debate highlights contrasting views on how best to secure Nigeria’s energy future. Both sides cite economic and industry impacts to support their positions.
TLDR
- CORAN argues that local refiners have shown greater commitment by investing heavily in domestic infrastructure and facing significant risks.
- The association claims Nigeria remains highly dependent on fuel imports, with over 20 billion litres of Premium Motor Spirit imported in 2023.
- CORAN says petrol imports rose to approximately N15.4tn in 2024, more than doubling from about N7.5tn in 2023, putting pressure on the economy.
- PETROAN insists that the import window should remain open for the whole of 2026 to prevent fuel shortages.
- The two groups disagree on whether imports should be restricted or maintained, reflecting broader questions about Nigeria’s downstream petroleum policy.
