The Centre for the Promotion of Private Enterprise has urged the federal government to strengthen Nigeria’s domestic refining sector instead of adopting the World Bank recommendation for increased petroleum and food imports.

In a statement, CPPE described the World Bank’s proposal in its recent Nigerian Development Update as unsuitable for Nigeria’s current economic needs, warning that greater import dependence would worsen structural weaknesses rather than solve supply shortages.

CPPE Chief Executive Officer, Dr. Muda Yusuf, argued that Nigeria should focus on expanding local refining capacity, especially as recent investments such as the Dangote Refinery have shown the country can move toward petroleum self-sufficiency. He said increasing imports now could reverse gains already made, place more pressure on foreign exchange reserves, and discourage local investors.

The group also warned that import liberalisation could accelerate de-industrialisation by exposing Nigerian producers to unfair competition from foreign firms operating under better infrastructure, lower financing costs, and government-backed subsidies.

According to CPPE, Nigeria’s long-term economic stability depends on a production-led strategy built around stronger domestic refining, improved manufacturing competitiveness, and increased agricultural productivity—not a return to heavy reliance on imports.

The organisation called on policymakers to prioritise reforms that reduce production costs, improve logistics and energy infrastructure, guarantee crude supply to local refineries, and promote local industrial growth over import-driven solutions.