Rising fuel imports could cripple local refineries – CPPE

Nigeria risks undermining its domestic refining sector if petroleum-product import permits continue to be issued without proof of a genuine supply shortfall, the Centre for the Promotion of Private Enterprise has warned. In a policy report on Sunday, the Chief Executive Officer of the CPPE, Dr Muda Yusuf, argued that u

According to the group, rising petrol imports could undermine domestic refining, investment and foreign exchange conservation if approvals are granted without transparent evidence of supply shortfalls.

The data showed that average daily Premium Motor Spirit (PMS), also known as petrol, imports rose to 18.1 million litres in June and 19.7 million litres in July from 5.9 million litres in May 2026.