The World Bank has removed its Nigeria Development Update report from its website after initially advising the Federal Government to sustain the importation of Premium Motor Spirit (PMS) to stabilise fuel supply.
- +World Bank removes Nigeria report advising petrol imports from website
The April 2026 report, released earlier this week, had recommended continued fuel imports alongside a gradual transition to a competitive downstream market.
The April 2026 report, released earlier this week, had recommended continued fuel imports alongside a gradual transition to a competitive downstream market.
However, checks by Nairametrics show that the report was no longer available on the bank’s website as of the time of filing this report.
In a subsequent statement, the World Bank indicated that such recommendations may no longer fully apply, citing evolving global energy dynamics.
The World Bank clarified its position, highlighting the need to balance policy recommendations with global energy realities.
The institution emphasised that while reforms are necessary, they must be carefully implemented to avoid unintended consequences for consumers.
Nigeria’s downstream petroleum sector has undergone significant reforms in recent years, particularly following the removal of fuel subsidies.
These developments have made fuel supply stability and pricing a key concern for both policymakers and consumers.
The World Bank continues to advocate a balanced approach to Nigeria’s energy sector reforms.
The removal of the report underscores the sensitivity of policy recommendations in a rapidly changing global energy environment.
The U.S.-Israel conflict with Iran drove oil prices higher, pressured global equities, and increased inflation concerns.
Concerns about Nigeria’s social safety net system have been raised by multiple institutions amid ongoing economic reforms.
