President Bola Tinubu’s approval of a 15 per cent import duty on petrol and diesel has been hailed as a bold economic reform that will strengthen local refining, protect Nigerian jobs, and boost investor confidence in the country’s energy sector.
The policy, which introduces a tariff on imported fuel to encourage domestic production, is being described by civic and industry observers as one of the administration’s most strategic steps toward energy independence and industrial revival.
Supporters of the move explained that the duty will curb the dominance of imported fuel in Nigeria’s downstream market, create room for local refiners like the Dangote Refinery and modular plants to thrive, and generate new revenue for infrastructure development.
Dr Ebikeme Edesiri, National President of the Conference of Registered Voters in Nigeria (CRVN), said in a statement on Saturday that the decision “reflects courage, foresight, and a deep understanding of economic sustainability.”
“President Tinubu has once again shown that he is a reform-minded leader who understands what it takes to build a stable economy,” Edesiri said.
“This import duty is not punitive—it is protective. It shields our local refineries from unfair competition, supports Nigerian workers, and helps to secure the future of our oil and gas industry.”
Boost for local refining and job creation
According to Edesiri, the tariff will help Nigeria cut its overdependence on imported fuel, encourage fresh investments in refining, and promote job creation across the energy value chain.
“This policy is a win-win for government, industry, and the people. By curbing the influx of cheap imported fuel, we will be protecting the huge investments made in domestic refining. It is a practical step toward energy independence and national pride,” he said.
The CRVN leader added that the policy aligns with Tinubu’s broader reform agenda — from fuel subsidy removal to exchange rate unification and the push for non-oil revenue expansion.
“Each of these reforms reflects a consistent and visionary economic direction. President Tinubu is not playing politics with policy. He is making tough but necessary decisions that will set Nigeria on the path of sustainable growth,” he noted.
Call for transparency and patience
The group urged the federal government to ensure that revenue generated from the import duty is transparently managed and channelled into critical infrastructure such as roads, power, and healthcare.
Edesiri also appealed to Nigerians to remain patient, saying the long-term benefits of the reforms would soon become evident through improved industrial capacity and economic stability.
“No country achieves self-sufficiency overnight. What we are witnessing is a deliberate rebuilding of our economy from within. It requires the cooperation of every Nigerian,” he said.
Describing the policy as “an act of national renewal,” CRVN reaffirmed its confidence in Tinubu’s leadership, calling him “a man of courage, conviction, and vision” who is steering Nigeria toward genuine economic independence.
“This 15 per cent petroleum import duty will protect Nigerian refineries, stimulate growth, and secure jobs. We stand solidly behind the President and urge him to sustain these noble reforms that bring development closer to the common man,” Edesiri said.
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