MAN faults World Bank’s petrol import recommendation, warns of deindustralisation
The Manufacturers Association of Nigeria (MAN) has rejected the World Bank’s recommendation to reinstate petrol import licences, warning that such a move could trigger deindustrialisation and economic setbacks.
The Manufacturers Association of Nigeria (MAN) has rejected the World Bank’s recommendation to reinstate petrol import licences, warning that such a move could trigger deindustrialisation and economic setbacks.
This position was made known by MAN Director-General, Segun Ajayi-Kadir, in a statement issued on Friday in Lagos.
The reaction follows the World Bank’s earlier recommendation urging Nigeria to sustain the importation of Premium Motor Spirit (PMS) to stabilise fuel supply.
Though the report was later removed from its website and replaced with a clarification urging a reassessment in light of evolving global energy dynamics, it is still generating a reaction.
The association said it reviewed the World Bank’s April 2026 Nigeria Development Update and its subsequent clarification on the downstream petroleum sector.
MAN acknowledged the importance of energy security but strongly opposed increased fuel importation as a solution to inflation.
It described the recommendation as structurally flawed, counterproductive, and harmful to Nigeria’s industrialisation agenda. The group warned that increased imports would heighten foreign exchange pressure, weaken the naira, and raise production costs.
Ajayi-Kadir maintained that Nigeria’s inflation is largely cost-push, driven by exchange rate volatility rather than demand factors.
The World Bank had initially suggested continued fuel imports alongside gradual reforms in the downstream petroleum sector.
It also emphasised the need for carefully sequenced reforms to protect consumers while improving market efficiency.
The recommendation has since sparked reactions from key stakeholders in Nigeria’s economic space.
MAN warned that reliance on imported fuel could undermine domestic refining capacity and expose Nigeria to external shocks.
MAN also proposed alternative solutions, including optimising the naira-for-crude policy, accelerating the Compressed Natural Gas (CNG) initiative, and addressing structural bottlenecks affecting manufacturers.
The debate over fuel importation comes amid broader concerns about Nigeria’s economic direction and reform priorities.
The ongoing discourse highlights the tension between short-term supply stabilisation and long-term industrial growth in Nigeria’s energy sector.
