The Presidency has defended the newly approved 15 per cent import duty on diesel and petrol, describing it as “a bridge, not a burden.”
President Bola Tinubu gave the approval in a letter dated October 21, 2025, following a request by the Federal Inland Revenue Service (FIRS) to apply the duty to the cost, insurance, and freight (CIF) value of imports. The move aims to align import costs with domestic realities.
Policy to Encourage Local Refining
According to the document, implementing the import duty could raise the pump price of petrol by about ₦99.72 per litre.
Reacting to the development on Friday, the President’s Special Adviser on Media and Public Communication, Sunday Dare, described the decision as a “bold and strategic move” meant to transform Nigeria’s energy sector.
He explained that the policy would promote local refining, increase domestic capacity, and ensure that the country’s oil wealth directly benefits its citizens.
‘A Step Towards Energy Independence’
Dare noted that Nigeria had for years relied on imported fuel despite being a major crude oil producer, a situation that drained foreign exchange and hindered job creation.
He said, “This new policy is designed to reverse that trend by encouraging local refining, boosting domestic capacity, and ensuring that Nigeria’s oil wealth translates directly into national prosperity.”
The presidential aide added that by making imported fuel less competitive, the government was shifting the market advantage towards local refineries such as Dangote and modular plants.
This, he said, would build a self-sustaining energy sector capable of generating jobs, investment, and industrial growth.
He concluded, “This policy is therefore not a burden, but a bridge from dependence to independence, from vulnerability to strength.”