World Bank Group Statement on the Nigeria Development Update

The World Bank Group released its April 2026 edition of the Nigeria Development Update on April 7. Included in the report is a recommendation to allow imports of premium motor spirit. Given current global energy supply disruptions, such recommendation may run counter to efforts that countries around the world are undertaking to ensure their energy and national security. In the case of Nigeria, the focus should be to provide targeted support to the most vulnerable people through their well-functioning social safety net system, and the World Bank Group stands ready to step up its existing support. Over time, transitioning toward a competitive retail market for Premium Motor Spirit is an important policy direction that requires a well-sequenced implementation strategy that guarantees the quality and standards of all petroleum products. The World Bank Group recognizes the efforts of the Government of Nigeria and the Nigerian private sector in taking concrete steps to safeguard fuel supply — a foundation that is essential to protect consumers and businesses.