CPPE Urges Reinstatement of 15% Fuel Import Duty in Nigeria for Energy Security
The Center for the Promotion of Private Enterprise (CPPE) is calling for the reinstatement of the 15% import duty on petrol and diesel in Nigeria. The suspension of the duty has raised concerns about the future capacity of domestic refineries and investor confidence.
Dr. Muda Yusuf, CEO of CPPE, argues that the temporary suspension undermines critical investments in local refineries, including Dangote Refinery. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had initially implemented the duty suspension but later deferred it to the first quarter of 2026.
CPPE warns that the suspension could lead to increased reliance on fuel imports, exposing Nigeria to foreign exchange volatility and supply shocks.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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