- Policy Overview:
- President Bola Tinubu approved a 15% import duty on petrol and diesel.
- The measure has sparked public debate over its potential impact on fuel prices.
- Government’s Position:
- Sunday Dare, Tinubu’s spokesperson, described the duty as a “bridge, not a burden”.
- Purpose: Reduce Nigeria’s dependence on imported fuel, encourage local refining, and boost domestic energy capacity.
- Imported fuel becomes less competitive, favoring refineries like Dangote Refinery.
- Expected Outcomes:
- As local refining expands, fuel prices are expected to moderate.
- Policy aims to create jobs, attract investment, and strengthen Nigeria’s energy sector.
- Public Concerns:
- Critics, including APC chieftain Ayiri Emami, argue the tariff may increase petrol prices.
- Current petrol prices in Abuja: ₦950–₦960 per litre, with projections above ₦1,000 per litre after implementation.
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