“15% Import Duty On Fuel Is A Bridge, Not A Burden”

Presidency says 15% fuel import duty aims to boost local refining.
The policy will make imported fuel less competitive, encouraging domestic growth.
Tinubu’s aide described it as a bridge to energy independence, not a burden.

The Presidency has defended the recent approval of a 15 per cent import duty on diesel and Premium Motor Spirit (PMS), also known as petrol, describing it as a strategic step toward energy independence and economic growth.

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EKO HOT BLOG reports that President Bola Ahmed Tinubu granted the approval in a letter dated October 21, 2025, following a request from the Federal Inland Revenue Service (FIRS) that the 15 per cent duty be applied to the cost, insurance, and freight (CIF) value of fuel imports. The move, according to the letter, is aimed at aligning import costs with domestic realities and is expected to raise the pump price of petrol by about ₦99.72 per litre.

In a statement issued on Friday via X, the Special Adviser to the President on Media and Public Communication, Sunday Dare, said the policy was a bold and visionary move to reshape Nigeria’s energy landscape.

“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.

He explained that Nigeria’s overreliance on imported fuel has long drained foreign exchange and deprived the nation of job opportunities that should be generated through local refining.

“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,” he said.

According to Dare, the introduction of the duty will make imported fuel less competitive, giving preference to local refiners such as Dangote Refinery and modular plants across the country. He noted that this shift would strengthen domestic production, create jobs, attract investment, and promote industrial growth.

“As local refining ramps up and supply strengthens, prices are expected to moderate while jobs, investment, and industrial activity expand,” he added.

Dare concluded by describing the import duty as a transformative measure rather than a hardship. “This policy is therefore not a burden, but a bridge from dependence to independence, from vulnerability to strength,” he said.