Oil marketers in Nigeria have renewed calls for liberalisation of the downstream petroleum sector, urging authorities to allow more licensed players to import Premium Motor Spirit (PMS), commonly known as petrol, into the country.
Billy Gillis-Harry, National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), made the appeal during an appearance on Channels Television’s The Morning Brief. He argued that fostering competition in the sector would help shield Nigeria from petrol price shocks, particularly amid ongoing instability in the Middle East, which has already driven local pump prices above N1,200 per litre.
Gillis-Harry stressed that while the Dangote Refinery has made significant contributions to Nigeria’s fuel supply and economic stability, over-reliance on a single source poses risks. He said that allowing additional importers would not only improve supply resilience but also exert downward pressure on prices through market competition.
“The fact that we are depending on the Dangote Refinery today is a great pointer to where we can go,” he said. “While we think that refining will increase in the country, temporarily, we should also allow imports to come in because that will help us to be able to compete favourably.”
His position contrasts with recent advice from the World Bank, which in its April 2026 Nigeria Development Update recommended reinstating petrol import licences to restore competition in the PMS market. The Bank warned that restricted supply and trade barriers have contributed to prices exceeding import parity levels, with PMS retailing at about N1,275 per litre in March 2026 compared to an estimated import parity price of N1,122 per litre.
Gillis-Harry dismissed the World Bank’s stance, asserting that Nigerian experts are capable of charting the country’s energy policy. He also rejected concerns about substandard imports, noting that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) enforces strict quality checks.
PETROAN members, he added, already hold import licences and have the capacity to bring in refined products, provided the market is opened up. “Affordability is a good thing for Nigerians,” he said, emphasising the need for multiple supply sources alongside the expansion of local refining capacity by companies such as Dangote, BUA, and Azikel.
The call for liberalisation comes as Nigeria seeks to balance support for domestic refining with ensuring stable and affordable fuel supply in a volatile global environment.
