Stakeholders, including energy experts and economists, have expressed concern over the Federal Government’s suspension of petrol imports, urging regulators to monitor pricing as the Dangote Petroleum Refinery takes a dominant position in Nigeria’s petrol market.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed that it has not issued any petrol import licence this year, stating that domestic production now meets national demand.
According to the agency’s February 2026 fact sheet, local refineries supplied about 36.5 million litres of petrol daily, while imports contributed only three million litres, bringing total national supply to 39.5 million litres per day. The data showed that the Dangote refinery accounted for about 92 per cent of the country’s petrol supply.
Based on an average petrol price of about ₦1,000 per litre, the Nigerian petrol market is estimated to be worth over ₦14.4 trillion annually.
Meanwhile, the Minister of Finance, Wale Edun, said the government would not interfere with market-based pricing of petroleum products except as a last resort.
Energy expert Wumi Iledare warned that the policy could trigger market speculation and potential pricing pressure if competition is limited, stressing the need for clear regulatory communication and strong supply assurance to maintain market stability.
