President Bola Tinubu has signed off on a 15 percent import tariff on petrol and diesel, a move the Presidency says is aimed at driving local refining, creating jobs, and reducing Nigeria’s long-standing dependence on imported fuel.
In a statement on Friday, the Special Adviser to the President on Media and Public Communications, Sunday Dare, described the decision as “a bridge, not a burden”, explaining that the new tariff policy is designed to strengthen Nigeria’s energy independence and encourage investment in domestic refining.
“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 wrote on his official X handle.
He said the policy addresses the country’s long-term overreliance on imported petroleum products, which has drained foreign exchange and stifled local opportunities.
“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,” Dare said.
“This new policy is designed to reverse that trend by encouraging local refining, boosting domestic capacity, and ensuring that Nigeria’s oil wealth translates directly into national prosperity.”
Dare explained that the policy would make imported products less competitive, giving an advantage to local refiners such as Dangote Refinery, Port Harcourt Refinery, and other modular plants across the country.
“By making imported fuel less competitive, the 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 added that as local refining increases, the country will experience a more stable supply of petroleum products and, over time, more predictable pump prices.
“As local refining ramps up and supply strengthens, prices are expected to moderate while jobs, investment, and industrial activity expand. This policy is therefore not a burden, but a bridge, from dependence to independence, from vulnerability to strength,” he said.
But while the Presidency insists the tariff will strengthen the local oil sector, petroleum marketers and depot operators have expressed concerns that it could trigger another spike in fuel prices.
Speaking anonymously, a depot operator told Punch, “As it is, the price of fuel may go above ₦1,000 per litre. I don’t know why the government will be adding more to people’s suffering.”
The National Vice-President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, shared a similar view, noting that while the decision could discourage importation and support local refining, it also carries risks.
“The 15 per cent tariff on imported fuel has its own implications. Maybe the price will go up, and equally, it will discourage importers from bringing in fuel if it becomes too costly,” Fashola said.
“I see that the government is trying to protect local refiners, but it will have its own implications because people will see it as a way of monopolising the industry for certain people. At the same time, the government aims to protect the local refiners.”
President Tinubu formally approved the new tariff structure in a letter dated October 21, 2025, addressed to the Attorney-General of the Federation, the Federal Inland Revenue Service, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
The directive, which was publicly reported on October 30, is part of what the government calls a “market-responsive import tariff framework.” It will take effect after a 30-day transition period ending November 21, 2025.
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