By Peace Oloruntoba

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has cautioned the Federal Government over the recent ban on the importation of foreign goods that are produced locally, urging that the move should not jeopardise the nation’s energy security.

The association, in a statement issued in Abuja by its National Public Relations Officer, Dr. Joseph Obele, noted that while it cautiously welcomes the policy, the government must adopt a measured approach to avoid unintended economic shocks.

Quoting its National President, Dr. Billy Gillis-Harry, the statement read: “Our primary concern is the availability and affordability of petroleum products in Nigeria to meet the daily consumption volume of over 46 million litres of petrol and other petroleum products.

“We must ensure that our policies do not compromise energy security, as this could have far-reaching consequences for the economy and the well-being of Nigerians.”

While commending President Bola Tinubu for what it described as a bold economic step, PETROAN warned of the potential pitfalls if the ban is not carefully implemented, especially in sectors critical to national stability.

Dr. Harry stressed that the government must take deliberate steps to avoid economic disruptions, particularly in the petroleum industry where Nigeria is still developing its local refining capacity.

He said: “We support efforts to strengthen the domestic economy and promote local content. However, policies must be strategically crafted to ensure they do not trigger product shortages or inflation, particularly in sectors such as energy, health and essential commodities.”

The association advised that essential and sensitive goods like petroleum products, pharmaceuticals, and highly consumable items be either exempted from the import ban or granted waivers to ensure consistent supply and affordability.

It further argued that certain goods may not yet be adequately produced locally, and imposing a blanket ban without considering existing production gaps could lead to scarcity and high costs.

PETROAN also cited examples from advanced economies, noting that even under the “America First” policy, the United States implemented selective tariffs rather than outright bans, thereby allowing for exemptions and flexibility with regard to critical goods.

The association called on the Federal Government to consider such international best practices in rolling out the policy, to preserve national interest and economic stability.