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Nigeria’s section refining operators person applauded the Federal Government’s support of a 15 per cent advertisement valorem import work connected Premium Motor Spirit (PMS) and diesel, saying the measurement volition deter inexpensive overseas imports, safeguard home refiners, and bolster vigor security.
In a confidential memorandum seen by LEADERSHIP Friday, dated 10 October 2025, and signed by Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), and addressed to President Tinubu, the connection sought support for a “measured import tariff connected PMS and diesel.”
A consequent memorandum dated 21 October 2025, with notation fig PRES8197/HAGF/100/71/FIRS/40/88-2/NMDPRA/2, was circulated from the State House to the Attorney-General of the Federation, the FIRS, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
RELATED: Tinubu Approves 15% Import Duty On Petrol, Diesel
The memo, signed by Damilotun Aderemi, the President’s backstage secretary, conveyed President Bola Tinubu’s support for a caller “market-responsive import tariff framework” connected petrol and diesel imports.
In the confidential memorandum dated 10 October 2025 and circulated for statesmanlike approval, officials framed the tariff arsenic a targeted instrumentality to align import costs with Nigerian realities, nurture section refining capacity, and stabilise the downstream marketplace nether the Renewed Hope Agenda.
The memo, which was aboriginal formalised successful a directive to the FIRS and the NMDPRA, outlined the rationale: the tariff serves arsenic a corrective, market-sensitive instrumentality designed to deter underpriced imports that undermine section refiners portion preserving affordability for consumers.
Proponents accidental it signals authorities committedness to home production, currency stability, and concern certainty for Nigeria’s refining ecosystem, including the Dangote Refinery and modular plants.
Reacting to the development, the publicity caput of the Crude Oil Refinery Owners Association of Nigeria (CORAN), Eche Idoko, said: “We see the instauration of the 15 per cent tariff connected imported refined petroleum products a invited development, arsenic it aligns with the nationalist nonsubjective of promoting section refining and discouraging over-reliance connected imported fuels.”
He, however, pointed retired that the argumentation tin lone present its intended benefits if implemented alongside different supportive measures that fortify home refining capacity.
“Without complementary policies—such arsenic just and unchangeable pricing for home crude supply, guaranteed and timely crude allocation to section refineries, and the effectual rollout of midstream and downstream involution programmes—this tariff risks becoming counterproductive.
“In specified a scenario, the argumentation whitethorn summation the outgo of imported products without a corresponding summation successful section supply, thereby creating artificial scarcity and imposing further hardship connected consumers, overmuch similar the acquisition that followed the removal of substance subsidy,” Idoko noted.
To debar this, helium said the authorities indispensable follow a holistic attack that integrates commercialized extortion with supply-side reforms.
“By ensuring that home refiners person entree to affordable crude, finance, infrastructure, and a predictable argumentation environment, the 15 per cent tariff tin service arsenic a catalyst for maturation alternatively than a trigger for ostentation oregon marketplace distortion. Only done specified a balanced implementation model tin Nigeria execute the duplicate objectives of vigor security,” helium said.
Energy sustainability adept and absorption advisor Meka Olowola besides described the President’s support of a 15 per cent import work connected petrol arsenic a deliberate effort to fortify Nigeria’s refining assemblage and beforehand self-sufficiency.
According to Olowola, raising the outgo of imported substance gives section refiners, including Dangote Refinery, a amended accidental to compete.
He said the protectionist measurement supports home production, safeguards jobs, and conserves overseas speech that would different money imports.
Citing Reuters, helium added that the work could adhd astir N99 per litre to the landing outgo of imported fuel, making section refining acold much viable.
He added that the argumentation besides serves arsenic a wide awesome to investors that Nigeria is superior astir gathering a sustainable downstream petroleum industry.
“In macroeconomic terms, the import work supports Nigeria’s broader concern and fiscal goals. It reduces unit connected overseas reserves, strengthens the naira, and enhances the country’s commercialized balance,” Olowola said.
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