Is it true that one must love oneself first before loving others?

I keep hearing this from people and the song by Whitney Houston "the greatest love of all". I didn't really understand it at first, but now I am slowly learning. If we love ourselves first, is that selfish? Does that mean we're arrogant or full of ourselves? If we truly love ourselves, then why would we need to love others? Does that mean we don't need anyone else to love besides ourselves? I do find some logic in loving myself first and then I can give it out, but I guess I want other people's opinions on this. They say if we love and value ourselves first, then we wouldn't need anyone to love us back because we love ourselves. Hmmm....a bit confusing yet logic at the same time. Are you with me? Please give your opinions. It will be greatly appreciated. Thanks guys!