The debate over petrol pricing has taken a fresh turn as Nigeria’s refining operators push back strongly against claims that imported fuel is cheaper than locally produced products, insisting the argument is being misunderstood and misrepresented.
The Crude Oil Refiners Association of Nigeria (CORAN) said the comparison being circulated is misleading because it ignores one major factor — quality differences between imported blended fuels and locally refined petroleum products.
Speaking through its Publicity Secretary, Eche Idoko, the association said imported petrol entering Nigeria is often blended to meet only minimum regulatory standards, which naturally lowers cost but does not reflect the same production depth as locally refined fuel.
He explained that many of these imported products are sourced from different international markets, including parts of Eastern Europe and Central Asia, where blending is commonly used as a cost-cutting process before shipment.
According to him, the World Bank’s recent analysis failed to properly align fuel specifications, stressing that key technical indicators such as density, flash point and pour point were not included in the comparison.
He argued that without matching identical fuel grades, any conclusion on pricing would be flawed and misleading, especially in a market as sensitive as petroleum.
Idoko maintained that fuel is not a uniform product, noting that different grades exist and each comes with its own pricing structure depending on refining intensity and emission standards.
He further stated that blending is not illegal, but it produces lower-grade fuels compared to products that pass through full catalytic refining processes, which are more capital intensive.
On cost structure, he said local refineries are still struggling with expensive crude supply, adding that Nigerian refiners purchase crude at premium international-linked prices without special incentives or discounts.
The World Bank had earlier reported that imported petrol was about 12 per cent cheaper than locally refined fuel and suggested that Nigeria reopen its market to fuel imports to restore competition and ease pricing pressure.
The report, however, sparked widespread criticism before being revised, with the institution clarifying that its position was tied to broader reforms aimed at improving market efficiency and protecting consumers.
CORAN insists that unless fuel comparisons are based on identical specifications, discussions around price advantage will continue to distort the realities of Nigeria’s downstream petroleum sector.