The Centre for the Promotion of Private Enterprise (CPPE) has rejected the World Bank’s recommendation for Nigeria to ramp up fuel and food imports, warning that such a move could undermine the country’s push toward self-sufficiency.
In its latest Nigerian Development Update, the global lender had advised increased importation of petroleum products and food to ease supply-side constraints. However, CPPE Chief Executive Officer, Muda Yusuf, said the proposal risks reversing gains made in domestic production.
While acknowledging the need to address supply gaps, Yusuf stressed that policy direction should prioritise strengthening local refining capacity and agricultural productivity rather than deepening import dependence.
“Nigeria has made notable progress toward self-sufficiency in petroleum supply, largely driven by private sector investments in domestic refining,” he said, cautioning that expanding imports at this stage could heighten foreign exchange pressures, weaken investor confidence, and expose the economy to external shocks amid global energy market volatility.
He argued that sustained growth would depend on policies that support domestic production, promote value addition, and encourage stronger industrial linkages across the economy.
According to him, priority should be given to scaling up local refining capacity, ensuring reliable crude supply under competitive terms, and creating an enabling environment for downstream investments; steps he described as critical to strengthening energy security and economic resilience.
Yusuf also pointed to structural challenges facing Nigerian refiners, including high energy costs, infrastructure gaps, and policy uncertainty, noting that these constraints put them at a disadvantage compared to foreign competitors operating in more supportive environments.
He cited recent progress in domestic refining, particularly the operationalisation of the Dangote Refinery, as evidence of Nigeria’s potential to achieve self-sufficiency with the right policy support.
On food security, Yusuf called for increased investment in agriculture, improved value chains, and better market access, warning that reliance on imports could stifle local production and slow progress in the sector.
He urged the World Bank to align its recommendations with evolving global trends, where countries are increasingly prioritising domestic production and protecting strategic industries in response to recent supply chain disruptions.
“Promoting imports as a solution to supply-side challenges is not sustainable and could worsen existing vulnerabilities,” Yusuf added.
He called on policymakers to resist import-driven approaches and instead pursue reforms that support industrialisation, enhance productivity, and build a more self-reliant Nigerian economy.
