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Article . 2025 . Peer-reviewed
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A Critique of World Bank Nigeria Development Report Draws Legal, Policy Challenge

Authors: Ife, Kenneth Amechi;

A Critique of World Bank Nigeria Development Report Draws Legal, Policy Challenge

Abstract

An energy economist, Professor Ken Ife, has strongly criticised recent recommendations by the World Bank urging Nigeria to deepen fuel importation and fully liberalise its downstream petroleum sector, describing the advice as “ill-timed, backward and inconsistent with Nigeria’s own laws. Speaking during a televised interview on Nigeria’s economic outlook, Ife argued that while parts of the World Bank’s latest Nigeria Development Update were analytically sound, its position on fuel importation undermines the country’s push for energy independence and local refining capacity. “He said that you cannot come to a country that is struggling and has suddenly developed a vision of becoming economically independent, and then advise it to reverse course and start importing again,” According to him, such recommendations run contrary to the provisions of the Petroleum Industry Act (PIA), which prioritises domestic crude supply for local refiners under the Domestic Crude Obligation framework. “The law is very clear; priority must be given to local refining capacity. Advising Nigeria to abandon that and return to import dependence is not only against government policy but against the PIA law itself,” He warned that increased importation would expose Nigeria to global supply shocks, drain foreign exchange reserves, and weaken ongoing investments in domestic refining, particularly at a time when private sector players are scaling up capacity. He concluded that there is no evidence to support telling Nigeria to depend on imports when major refining countries are restricting exports,”

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
Green