Femi Ashekun/
The Nigerian Ports Authority (NPA) has reported a steady flow of vessels laden with petroleum products arriving at Lagos ports, raising concerns among economic observers that persistent importation could undermine the federal government’s local refining drive and efforts to stabilise the naira.
According to the NPA’s Daily Shipping Position released on Tuesday, 16 ships carrying petroleum products, food items, and other cargo are expected to berth at the Apapa and Tin-Can Island ports between October 27 and 29. Of these, six are transporting crude oil, five are laden with aviation fuel, while the remaining five are carrying petrol, diesel, gas oil, and other assorted goods.
The News Agency of Nigeria (NAN) reports that an additional 19 ships are currently discharging cargoes at the ports, including bulk wheat, gypsum, containers, and petrol.
Two other vessels are also at anchorage awaiting berthing space.
Economic analysts note that the sustained arrival of fuel-laden vessels runs contrary to the federal government’s policy focus on promoting self-sufficiency in petroleum refining and conserving foreign exchange.
Payments for imported refined fuel are made in dollars, increasing pressure on the naira and widening the country’s trade deficit.
The trend comes despite the commencement of operations at the Dangote Refinery and the ongoing rehabilitation of the nation’s state-owned refineries.
Under the Petroleum Industry Act and related policy reforms, government strategy prioritises domestic refining as a means of retaining value within the economy, creating jobs, and reducing dependence on external markets.
While short-term imports may help cushion domestic supply gaps, experts caution that continued reliance on foreign refined products contradicts the objectives of Nigeria’s economic reform agenda.
Aligning import volumes with domestic production capacity, they argue, will be essential to easing pressure on the currency, reducing fiscal strain, and sustaining the gains of current policy initiatives.
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