CPPE backs Dangote Refinery, condemns fresh petrol import licenses issuance

The Central for the Promotion of Private Enterprise (CPPE) has criticized the Nigerian government for issuing new petrol import licenses to petroleum marketers, arguing that Dangote Refinery has the capacity to satisfy domestic demand.

CPPE’s chief executive officer made the remarks in a statement released on Sunday.

Earlier this month, the Nigerian Midstream and Downstream Petroleum Regulatory Authority granted petrol import licenses to several petroleum marketers.

Dangote Refinery, citing the Petroleum Industrial Act, has taken the government to court over the decision to issue these licenses.

At the same time, the Nigerian National Petroleum Company Limited reportedly opposed the refinery’s lawsuit challenging the new petrol import licenses.

The move has prompted responses from industry stakeholders, many of whom have criticized both NNPCL and the Midstream and Downstream Petroleum Regulatory Authority.

CPPE explained that a nation cannot achieve prosperity through imports alone.

According to the organization, portraying Dangote Refinery as a monopolistic threat is both flawed and unfair.

The think tank emphasized that thriving economies are built on production, refining, manufacturing, value addition, and the strengthening of domestic productive capacity.

“Attempts to portray Dangote Refinery as a monopolistic threat are simplistic, fundamentally flawed and grossly unfair,” CPPE said. “Nigeria should not demonise audacious investment, industrial courage, scale and risk appetite. A country that undermines transformative investment sends deeply troubling signals to both domestic and foreign investors.”