The National Association of Nigerian Students (NANS) has commended the Presidency for recent policy actions aimed at protecting local industries, particularly the Dangote Petroleum Refinery, describing the measures as critical to Nigeria’s economic survival and long-term development.
Speaking in Ibadan, the Oyo State capital, the NANS presidential spokesperson, Alao John Oluwadamilola, said the Federal Government’s decision to prioritise domestic refining capacity and introduce import duties on refined petroleum products was a bold step towards correcting decades of structural weaknesses in the economy.
According to NANS, Nigeria’s long-standing dependence on imported refined petroleum products, despite being a major crude oil producer, has resulted in massive foreign exchange losses, exposure to global market shocks, recurring fuel scarcity, and the steady erosion of local industrial capacity.
The students’ body described the emergence of large-scale indigenous investments such as the Dangote Petroleum Refinery as a historic opportunity to reverse the country’s import-dependent economic model and entrench value addition within the domestic economy.
NANS said the Presidency deserved commendation for taking deliberate steps to shield local refineries from unfair competition, economic sabotage, and policy inconsistency, stressing that no serious country allows unrestricted imports to undermine its productive base.
“It is established both in economic theory and practice that excessive importation weakens domestic industries, drains foreign exchange reserves, and worsens unemployment,” the association said, noting that strategic protection of infant industries was a proven path to national development.
The association argued that local refining should be seen not merely as a commercial venture but as a national economic necessity, adding that indigenous investors who commit substantial resources to critical sectors deserved support rather than regulatory uncertainty.
NANS further aligned itself with calls for Nigeria’s crude oil resources to be prioritised for domestic value addition before export, describing the practice of exporting crude oil cheaply and importing refined products at higher costs as economically unsustainable.
“This position is not driven by sentiment but by sound economic reasoning and patriotic responsibility,” the statement said, adding that countries now regarded as economically advanced passed through similar phases of protecting strategic sectors while building internal capacity.
NANS urged regulatory agencies, labour unions, marketers, and civil society organisations to support policies that promote local production and discourage actions capable of undermining indigenous investments.
According to the association, Nigeria’s economic future depends on deliberate policies that prioritise domestic industries, encourage local investors, and gradually end the culture of destructive import dependence.
