Tinubu’s 15% import duty on petrol, diesel bridge to energy independence — Presidency reveals

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President Bola Ahmed Tinubu’s recent decision to introduce a 15 percent import duty on petrol and diesel has been characterized as a “bold and strategic move” aimed at reshaping Nigeria’s energy industry and advancing self-reliance.

Sunday Dare, the President’s Special Adviser on Media and Public Communication, explained that the initiative seeks to lessen Nigeria’s heavy dependence on imported petroleum products while boosting local refining capacity and creating employment opportunities.

“It’s no longer news that President Bola Ahmed Tinubu has approved a 15 per cent import duty on petrol and diesel — a bold and strategic move aimed at reshaping Nigeria’s energy landscape,” Dare said in a statement.

He pointed out that Nigeria’s prolonged reliance on imported fuel has drained the nation’s foreign reserves and deprived it of countless job opportunities, even though the country is a top crude oil producer.

He said the president’s new policy would “reverse that trend by encouraging local refining, boosting domestic capacity, and ensuring that Nigeria’s oil wealth translates directly into national prosperity.”

He noted that the import duty would make foreign fuel products less competitive in the market, giving local refineries — including the Dangote Refinery and other modular plants emerging nationwide — a distinct advantage.

According to him, as local refining expands and domestic production chains become stronger, Nigerians will begin to experience steadier fuel prices and a broader economic rebound.

“By making imported fuel less competitive, government is tilting the market in favour of local refineries such as Dangote and other modular plants, laying the groundwork for a self-sustaining and resilient energy sector,” he stated.

He further stressed that the new tariff should not be interpreted as an additional burden on citizens but rather as a crucial step toward sustainable national progress.

“This policy is therefore not a burden, but a bridge — from dependence to independence, from vulnerability to strength,” he said.

Dare concluded that the long-term advantages of the 15 percent import duty include greater investment in domestic production, the rise of new industrial activities, and an economy firmly supported by homegrown energy capacity.

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