Nigerian Presidency Defends 15% Fuel Import Tariff to Boost Local Refineries

The Nigerian Presidency has defended the 15% fuel import tariff approved by President Bola Ahmed Tinubu to reshape the country's energy landscape. The policy aims to discourage fuel imports, promote local refinery investments, and reduce reliance on imported petroleum products.

This strategic move is designed to boost Nigeria's energy self-sufficiency, increase domestic refining capacity, and translate oil wealth into national prosperity. The tariff will make imported fuel less competitive, favoring local refineries like Dangote Refinery and Port Harcourt Refinery, leading to job creation, industrial growth, and investment inflow in the local oil and gas sector.