Bangladesh, May 19 -- Nigeria stands at a defining moment in its long struggle to achieve energy security. The legal battle initiated by Dangote Petroleum Refinery against fuel import licenses issued to marketers and the state-owned Nigerian National Petroleum Company (NNPC) is more than a corporate dispute. It raises fundamental questions about competition, market regulation, investment protection, and the future structure of Africas largest economys downstream petroleum sector.

At the heart of the controversy lies a conflict between two legitimate national objectives. On one hand, Nigeria wants to encourage domestic refining and reduce its costly dependence on imported fuel. On the other, it must ensure a stable, competitive, and resil...