Presidency: Why 15% fuel import duty is in Nigeria’s best interest

President Bola Ahmed Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, has said that the newly approved 15 per cent import duty on petrol and diesel is not a burden on Nigerians but a deliberate strategy to rebuild the country’s energy independence.

In a detailed post on X, Dare described the tariff as a “bold and strategic move” aimed at reshaping Nigeria’s energy landscape and reducing the nation’s long-standing dependence on imported fuel.

According to him, Nigeria has for years relied heavily on imported petroleum products despite being a major crude oil producer, a practice that drains foreign exchange and exports jobs that should have been created locally.

He said the new import duty policy was designed to reverse that pattern by encouraging local refining, boosting domestic capacity, and ensuring that the nation’s oil wealth directly benefits Nigerians.

Dare noted that by making imported fuel less competitive, the government is shifting the market in favour of local refineries such as the Dangote Refinery and modular plants, creating a foundation for a more self-sustaining and resilient energy sector.

He added that as local refining expands and supply improves, Nigerians should expect gradual price moderation alongside a rise in industrial activity, investments, and employment opportunities across the value chain.

The former Minister of Youth and Sports Development stressed that the new policy reflects President Tinubu’s long-term economic vision to strengthen the naira, secure Nigeria’s energy future, and ensure that the oil sector contributes directly to national growth.

Dare wrote that the move is “a bridge not a burden, leading the country from dependence to independence, from vulnerability to strength.”

He concluded by expressing confidence that the measure would accelerate Nigeria’s transition into an energy-secure nation capable of meeting both domestic and regional fuel demands.