President Bola Ahmed Tinubu’s recent approval of a 15 percent import duty on petrol and diesel has been described as a “bold and strategic move” to transform Nigeria’s energy sector and promote self-sufficiency.
According to Sunday Dare, the president’s special adviser on media and public communication, the policy is designed to reduce the country’s overreliance on imported petroleum products while supporting 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.
Dare explained that Nigeria’s long dependence on imported fuel has drained foreign exchange and cost the country thousands of potential jobs, despite being a leading crude oil producer.
He said the president’s new policy would “reverse that trend by encouraging local refining, boosting domestic capacity, and ensuring that Nigeria’s oil wealth translates directly into national prosperity.”
According to him, the new import duty will make imported fuel less competitive, thereby giving an advantage to local refineries such as the Dangote Refinery and other modular plants springing up across the country.
Dare added that as local refining increases and the domestic supply chain strengthens, Nigerians will begin to experience more stable fuel prices and economic expansion.
“By making imported fuel less competitive, government is tilting the market in favour of local refineries such as Dangote and other modular plants, laying the groundwork for a self-sustaining and resilient energy sector,” he stated.
He emphasized that the measure should not be seen 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 noted that the long-term benefits of the 15% import duty would include increased investment in local production, new industrial activities, and a stronger economy anchored on domestic energy capacity.
