President Bola Ahmed Tinubu’s approval of a 15 percent import duty on petrol and diesel has been described as a “bold and strategic step” toward transforming Nigeria’s energy sector and achieving self-sufficiency.
According to Sunday Dare, the president’s Special Adviser on Media and Public Communication, the new policy aims to reduce Nigeria’s heavy reliance on imported petroleum products while boosting local refining and job creation.
“It’s no longer news that President Bola Ahmed Tinubu has approved a 15 per cent import duty on petrol and diesel — a bold and strategic move aimed at reshaping Nigeria’s energy landscape,” Dare said in a statement.
He explained that decades of dependence on imported fuel had drained foreign exchange and cost the country thousands of jobs, despite being a major crude oil producer.
The new policy, he said, will “reverse that trend by encouraging local refining, boosting domestic capacity, and ensuring that Nigeria’s oil wealth translates directly into national prosperity.”
Dare noted that the import duty would make imported fuel less competitive, giving an advantage to local refineries such as the Dangote Refinery and emerging modular plants.
“As local refining increases and the domestic supply chain strengthens, Nigerians will begin to experience more stable fuel prices and economic expansion,” he stated.
He further emphasized that the measure should not be viewed as a burden on Nigerians but as a vital step toward national growth.
“This policy is therefore not a burden, but a bridge — from dependence to independence, from vulnerability to strength,” he said.
Dare concluded that the long-term benefits of the policy include increased investment in local production, new industrial activities, and a stronger economy anchored on domestic energy capacity.