The Presidency has clarified that the newly approved 15% import duty on petrol and diesel is aimed at boosting local refining and reducing Nigeria’s dependence on imported fuel.
In a statement on Friday, Special Adviser to the President on Media and Public Communication, Sunday Dare, said the policy is designed to make imported petroleum products less competitive while encouraging domestic refining.
According to Dare, the measure will help conserve foreign exchange, create jobs, and ensure that Nigeria’s oil wealth translates directly into national prosperity.
“President Bola Ahmed Tinubu’s approval of a 15% import duty on petrol and diesel is a bold, strategic move to reshape Nigeria’s energy landscape,” Dare stated.
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“For years, the nation has depended heavily on imported fuel despite being a leading crude oil producer, draining foreign exchange and exporting jobs that should have been created at home. This new policy reverses that trend by tilting the market in favour of local refineries such as Dangote and other modular plants.”
He added that as local refining and supply increase, fuel prices are expected to stabilize while investment and industrial activity expand.
“This policy is not a burden, but a bridge — from dependence to independence, from vulnerability to strength,” he said.
President Tinubu’s approval was conveyed in a letter dated October 21, 2025, signed by Damilotun Aderemi, Private Secretary to the President, and directed to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The FIRS Chairman, Zacch Adedeji, had earlier proposed the duty to align import costs with domestic realities and strengthen Nigeria’s naira-based oil economy in line with the Renewed Hope Agenda for energy security and fiscal sustainability.
