The Presidency has defended the recently approved 15% import duty on petrol and diesel, saying the policy is “a bridge, not a burden.”
President Bola Tinubu gave his approval in a letter dated October 21, 2025, after the Federal Inland Revenue Service (FIRS) requested that the duty be applied to the cost, insurance, and freight (CIF) value of imported fuel. The move is expected to align import pricing with local market realities.
Policy Designed to Favor Local Refiners
Documents show that the new import duty could increase the pump price of petrol by roughly ₦99.72 per litre.
Responding to public concerns on Friday, the President’s Special Adviser on Media and Public Communication, Sunday Dare, described the decision as a “bold, strategic step” that would reshape Nigeria’s energy industry.
He explained that the policy is aimed at strengthening local refining, expanding domestic fuel production, and ensuring that Nigeria’s oil resources directly improve the lives of its people.
‘Fueling Independence, Not Hardship’
Dare noted that despite being a top crude oil producer, Nigeria has depended heavily on imported fuel for years—draining foreign reserves and missing opportunities to create jobs.
According to him, the new duty makes imported fuel less attractive and gives an edge to home-based refineries, including Dangote Refinery and modular plants.
He said the shift will help build a sustainable energy system that attracts investment, boosts employment, and drives industrial growth.
Dare concluded: “This policy is not a burden, but a bridge from dependence to independence, from vulnerability to strength.”