The World Bank Group has clarified its recommendation on petrol imports into Nigeria following criticism from policy analysts and social media commentators over its latest Nigeria Development Update.
In a statement sent to journalists on Friday, the bank explained that its April 2026 report suggested allowing imports of Premium Motor Spirit (PMS) but stressed the proposal should be viewed within a broader reform framework rather than as a standalone policy directive.
“The World Bank Group released its April 2026 edition of the Nigeria Development Update on April 7. Included in the report is a recommendation to allow imports of Premium Motor Spirit,” the statement said, noting that global energy supply disruptions make such decisions sensitive for national energy security.
The clarification followed criticism from social media activist Dan Bello, who questioned the implications of the recommendation for Nigeria’s domestic refining ambitions. Public debate intensified after the webpage hosting the report was reportedly taken down shortly after the controversy began.
Responding to the concerns, the bank emphasised that its position was not a blanket endorsement of fuel importation but part of a broader strategy linked to market reforms and support for vulnerable households.
“In the case of Nigeria, the focus should be to provide targeted support to the most vulnerable people through a well-functioning social safety net system, and the World Bank Group stands ready to step up its existing support,” it stated.
The institution added that any move towards liberalising fuel imports must be carefully managed to avoid undermining energy security, especially amid fragile global supply chains driven by geopolitical tensions. It also stressed that reforms in the downstream petroleum sector should be gradual and well sequenced.
“Over time, transitioning towards a competitive retail market for Premium Motor Spirit is an important policy direction that requires a well-sequenced implementation strategy that guarantees the quality and standards of all petroleum products,” the statement added.
The bank acknowledged ongoing efforts by the Federal Government and private investors to stabilise fuel supply, particularly with increasing domestic refining capacity, including production from the Dangote Petroleum Refinery.
Earlier, the World Bank disclosed that imported petrol was about 12 per cent cheaper than fuel supplied by the Dangote refinery as of March 2026, citing an ex-depot price of about N1,275 per litre compared to an estimated import-parity price of around N1,122 per litre.
It warned that rising global crude oil prices—projected at about $80 per barrel amid tensions in the Middle East—could add roughly 3.1 percentage points to Nigeria’s headline inflation, with additional indirect pressure expected through higher transport, logistics, and food costs.