By Muhammad Mamman
Nigeria’s President Bola Tinubu has formally approved a 15 per cent import duty on diesel and petrol, a move designed to reduce the country’s dependence on imported fuel and shore up government revenue.
The tariff is part of the government’s wider effort to encourage local refining, strengthen domestic production and cut down on large-scale fuel imports that have weighed heavily on the economy. Experts have long criticised Nigeria’s reliance on imported petrol and diesel even though refining capacity exists within the country.
In introducing the duty, the administration hopes to shift the cost burden of imported fuel back to the importers, while incentivising investment in Nigeria’s own refining industry. The directive signals a sharper turn in energy policy, aligning with previous measures such as the push for compressed natural gas (CNG) vehicles and the ending of fuel subsidies.
However, analysts warn that the increase may lead to higher domestic fuel prices in the short term and could add to the cost-of-living pressures faced by households and businesses. Balancing the long-term benefits of energy independence with the immediate impacts on consumers will be key for the government as the policy is rolled out.
