MON APRIL 13 2026-theGBJournal| The Centre for the Promotion of Private Enterprise (CPPE) has voiced strong opposition to the World Bank’s recommendation in its latest Nigeria Development Update, which advocates increased importation of petroleum products and food to address the country’s supply-side challenges.
The think-tank argues that such a strategy is deeply troubling and fundamentally misaligned with Nigeria’s current economic realities and reform trajectory, and risks undermining domestic production and weakening Nigeria’s long-term economic resilience.
”At a time when the country is making measurable progress in restoring macroeconomic stability—evidenced by improving foreign reserves, moderating inflation, a more stable exchange rate regime, and growing capacity for the export of refined petroleum products—the policy priority should be to consolidate these gains, not undermine them,” CPPE said in its policy brief seen by the G&BJournal.
It noted that Nigeria is now gradually transitioning towards greater self-sufficiency in petroleum products supply, driven by significant private investments in domestic refining capacity.
”This momentum should be strengthened through deliberate policies that support local production, enhance value addition, and deepen industrial linkages within the economy.”
CPPE, instead is calling for a shift in policy direction towards industrialisation-driven reforms that prioritise local capacity and productivity.
Key recommendations include expanding domestic refining capacity with assured crude supply to local refineries, implementing targeted measures to lower production costs—particularly in energy and logistics—and strengthening manufacturing ecosystems through the development of industrial clusters.
The group also emphasised the need to boost agricultural productivity and deepen agro-processing value chains, while addressing structural constraints that hinder private sector growth.
Promoting backward integration and local content development, it said, would further enhance Nigeria’s economic competitiveness.
According to CPPE, these measures represent a more sustainable pathway to achieving inclusive growth, job creation, and economic stability.
It warned that import liberalisation is not a viable long-term solution, as it could exacerbate structural weaknesses, accelerate de-industrialisation, and increase exposure to external shocks.
The organisation concluded that Nigeria’s development must be anchored on a production-led growth model built on strong domestic refining capacity, a competitive manufacturing base, and resilient agricultural systems that guarantee energy and food security.
CPPE therefore urged policymakers to reject import-dependent strategies and instead pursue reforms that will foster a self-reliant and industrialised economy.
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