Presidency Approves 15% Import Tariff on Petrol and Diesel to Boost Local Refining in Nigeria

The Presidency, with approval from Tinubu, implements a 15% import tariff on petrol and diesel to enhance local refining capacity, reduce import dependence, and stimulate job creation in Nigeria's oil sector. The move is intended to strengthen the country's energy independence, encourage investments in domestic refineries like Dangote Refinery and Port Harcourt Refinery, and ensure stable fuel supply.

Stakeholders like Ham Fashola support the decision, emphasizing the need to discourage imports and support local refineries. The new tariff structure will be effective from October 30 to November 21, 2025.