The Presidency has defended the Federal Government’s decision to impose a 15 percent import duty on petrol and diesel, insisting that the measure will not constitute a burden on Nigerians.
According to a statement issued on Thursday night, the policy is part of the administration’s strategy to encourage local refining, stabilise the market, and promote fair competition among industry players.
Policy Explanation
The clarification came after concerns were raised that the newly introduced duty might trigger an increase in fuel prices across the country.
The Presidency, however, maintained that the duty is designed to protect the domestic oil sector, not to raise revenue or increase pump prices.
It explained that the import levy was introduced to align the cost of imported fuel with the reality of Nigeria’s growing refining capacity, especially as local refineries like the Dangote Refinery begin full operations.
Official Reaction
Presidential spokesperson Bayo Onanuga said the decision was “well-considered and carefully structured to strengthen the economy, not weaken it.”
“The 15 percent import duty is a standard global practice. It is meant to discourage excessive dependence on imported fuel and support local production. It will not burden citizens or lead to hardship,” he said.
Onanuga further noted that the government remains committed to maintaining fuel affordability while ensuring that local investors in refining are not undermined by cheap imports.
Background
President Bola Tinubu had earlier approved the 15 percent duty on petrol and diesel imports in a letter to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
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The directive, which takes immediate effect, was part of broader fiscal adjustments to encourage domestic production and reduce the outflow of foreign exchange for fuel importation.
Public Concerns
Despite the government’s assurance, some analysts fear that the policy could still result in higher landing costs for imported fuel, potentially impacting pump prices in the short term.
However, the Presidency insists that with increased local output, Nigeria will soon experience greater price stability and energy security
