LAA Defends Nigeria’s Local Refining Drive, Challenges World Bank View

The League of African Ambassadors has urged a fairer look at Nigeria’s downstream sector after recent World Bank comments. In a statement from Lusaka, President Ambassador Nwanne Ominyi stressed that local refining investments should be seen as strategic assets, given decades of import dependence that strained foreign reserves and left Nigeria vulnerable to supply shocks. While acknowledging that open markets can boost efficiency and pricing, the League warned against dismissing indigenous capacity as a distortion. It argued that newly built refineries strengthen energy security, promote value addition, create jobs and help retain wealth within Africa. The group called on development partners to consider Africa’s unique economic challenges rather than apply generic policy templates. It urged policymakers to balance competition with targeted support for strategic industries during their early stages, ensuring long-term self-reliance and industrial growth. Signed by media aide Chris Mayor, the statement framed this moment as pivotal for Africa’s shift from raw material exporter to industrialized economy.

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