CPPE Advocates for Higher Tariffs on Imported Petroleum

The Centre for the Promotion of Private Enterprise (CPPE), under the leadership of Chief Executive Officer Muda Yusuf, has called for higher duties on imported petroleum products. This request was made in response to the 2026 fiscal policy measures, which include tariff amendments aimed at supporting domestic refining and improving access to renewable energy across Nigeria.

Yusuf highlighted the necessity of revising import duties across 192 tariff lines and implementing a green tax on imported vehicles. He noted that higher tariffs on finished goods could range from 20% to 70%, which would enhance local competitiveness.

Yusuf expressed concerns about the weak fiscal stance regarding petroleum product imports and the need for stronger protections for local refineries. He recommended a review of the 40% tariff on vehicles with engines below 2000cc, suggesting that additional charges could push rates above 50%.

Yusuf also urged for a maximum tariff of 25% on the automotive sector and proposed a five percent import duty on renewable energy equipment to improve affordability for households and small businesses.