By Adesina Wahab

The National Association of Nigerian Students (NANS), has commended the Presidency for its support for local industries, especially the recent stance it took in the face-off between Dangote Refinery and some regulators.

NANS Presidential Spokesperson, Comrade Alao John Oluwadamilola, stated this in a statement on Thursday.

“NANS as a critical stakeholder in national development and the representative voice of Nigerian youths, hereby expresses its considered position on recent policy actions of the Federal Government aimed at protecting local industries, with particular reference to the Dangote Petroleum Refinery. This position reflects the views of wise and concerned citizens who clearly understand the long-term implications of economic policy decisions on national growth, employment generation, and economic sovereignty.”

The NANS Presidential spokesperson emphasised that for decades Nigeria has paradoxically remained dependent on the importation of refined petroleum products despite being a major crude oil-producing nation.

“This structural contradiction has led to massive foreign exchange outflows, heightened exposure to international market volatility, persistent fuel scarcity, and the gradual weakening of domestic industrial capacity. Against this backdrop, the emergence of large-scale indigenous investments such as the Dangote Petroleum Refinery presents a historic opportunity to reverse Nigeria’s import-dependent economic model and firmly entrench value addition within the country.

“NANS therefore commends the Presidency for recent steps taken to protect local refineries from unfair competition, economic sabotage, and policy inconsistency. The introduction of import duties on refined petroleum products, alongside a clear policy direction prioritising domestic refining capacity, represents deliberate and necessary interventions aimed at correcting long-standing distortions in the Nigerian economy. These measures are consistent with established global economic practice, as no serious nation permits unrestricted importation to undermine its local productive capacity.

“Economic theory and practical experience have consistently demonstrated that excessive importation poses serious dangers to any economy. Import dependence weakens domestic industries, erodes foreign exchange reserves, increases unemployment, and undermines technological advancement. As the renowned economist Friedrich List rightly argued, nations do not develop through unregulated free trade alone, but through the strategic protection of infant industries until they attain competitiveness. In the Nigerian context, local refining is therefore not merely a commercial venture but a national economic necessity.

“The Dangote Group, through its substantial investments in refining, fertiliser, cement, and other critical sectors, has demonstrated strong confidence in Nigeria’s economic future. Such indigenous investments deserve protection and encouragement rather than hostility or regulatory uncertainty. When local investors are supported, they generate employment, facilitate skills transfer, stabilise markets, and reduce capital flight. Conversely, when they are undermined, the economy suffers and foreign dependence deepens.

“NANS firmly aligns itself with the position that Nigeria’s crude oil resources should primarily serve domestic value addition before export. Selling crude oil cheaply to foreign refiners while importing refined products at significantly higher costs is economically irrational and detrimental to national development. As widely acknowledged by economic analysts and youth leaders, no nation can sustainably develop by exporting raw materials while importing finished goods.

“This position is not driven by sentiment but grounded in sound economic reasoning and patriotic responsibility. Supporting local industries does not equate to hostility towards international trade; rather, it reflects a strategic approach that places national interest, economic stability, and the welfare of future generations at the centre of public policymaking. Notably, countries that are economically advanced today passed through similar phases of protecting strategic sectors while deliberately building internal productive capacity.

“In conclusion, NANS reiterates its commendation of the Presidency for taking bold and decisive steps to protect local industries such as the Dangote Petroleum Refinery and for demonstrating a clear commitment to economic self-reliance. We call on all relevant stakeholders, including regulatory agencies, labour unions, marketers, and civil society actors, to support this national objective and desist from actions capable of sabotaging indigenous investments. Nigeria’s economic future depends on deliberate policies that prioritise local production, encourage domestic investors, and gradually but decisively end the culture of destructive import dependence.”