Tinubu Lauded Over 15% Petroleum Import Duty

The Conference of Registered Voters in Nigeria (CRVN) has lauded President Bola Ahmed Tinubu for approving a 15 percent import duty on petrol and diesel, describing the decision as a bold and strategic policy that will transform Nigeria’s petroleum sector and safeguard local investments.

In a statement issued on Saturday, the group’s National President, Dr Ebikeme Edesiri, praised Tinubu for demonstrating courage and foresight in protecting Nigeria’s refining industry and advancing the country’s energy self-sufficiency.

Dr Edesiri said the decision reflects the administration’s commitment to building a resilient domestic economy that prioritises local production, protects jobs, and boosts investor confidence.

“President Tinubu has once again shown that he is a reform-minded leader who understands what it takes to build a stable economy. This import duty is not punitive—it is protective. It shields our local refineries from unfair competition, supports Nigerian workers, and helps to secure the future of our oil and gas industry,” the statement reads.

The CRVN said the policy would encourage investors, create employment opportunities, and help Nigeria reduce its overdependence on imported fuel.

According to the group, the new import tax will also promote healthy competition, strengthen the naira, and stimulate revenue generation for national development.

“This policy is a win-win for government, industry, and the people. By curbing the influx of cheap imported fuel, we will be protecting the huge investments made in domestic refining. It is a practical step toward energy independence and national pride,” the statement added.

Edesiri noted that the measure aligns with the President’s broader reform agenda, which includes removing fuel subsidies, unifying the exchange rate, and expanding non-oil revenue sources to strengthen the economy.

“Each of these reforms reflects a consistent and visionary economic direction. President Tinubu is not playing politics with policy. He is making tough but necessary decisions that will set Nigeria on the path of sustainable growth,” Edesiri said.

The CRVN urged the federal government to ensure that revenue generated from the import duty is transparently managed and invested in improving critical infrastructure, especially roads, power, and healthcare.

The group also called on Nigerians to support the reforms, noting that the benefits of the current policies would soon become evident through improved local capacity, job creation, and economic stability.

“We must be patient and support these policies. No country achieves self-sufficiency overnight. What we are witnessing is a deliberate rebuilding of our economy from within. It requires the cooperation of every Nigerian,” the group admonished.