The presidency has defined that the not too long ago launched 15% import obligation on petrol and diesel was designed to make these imported merchandise much less aggressive and encourage native refining.
It acknowledged that the coverage may even increase home capability and make sure that Nigeria’s oil wealth interprets straight into nationwide prosperity.
This disclosure is contained in an announcement issued by the Particular Adviser to the President on Media and Public Communication, Sunday Dare, on Friday, October 31, 2025.
Dare acknowledged that it will reverse the disturbing pattern of Nigeria’s heavy reliance on imported petroleum merchandise regardless of being a number one crude oil producer and preserve overseas alternate.
Costs will reasonable
The presidential spokesman famous that with this coverage, the federal authorities is shifting the market to favour native refineries corresponding to Dangote and different modular crops.
He identified that the rise in native refining and provide will assist in the moderation of costs in addition to develop jobs, funding and industrial exercise.
Dare within the assertion mentioned, ‘’It’s now not information that President Bola Ahmed Tinubu has permitted a 15 per cent import obligation on petrol and diesel — a daring and strategic transfer geared toward reshaping Nigeria’s vitality panorama.
‘’For years, the nation has depended closely on imported gas regardless of being a number one crude oil producer, draining overseas alternate and exporting jobs that ought to have been created at house.
‘’This new coverage is designed to reverse that pattern by encouraging native refining, boosting home capability, and guaranteeing that Nigeria’s oil wealth interprets straight into nationwide prosperity.
‘’By making imported gas much less aggressive, authorities is tilting the market in favour of native refineries corresponding to Dangote and different modular crops, laying the groundwork for a self-sustaining and resilient vitality sector.
‘’As native refining ramps up and provide strengthens, costs are anticipated to reasonable whereas jobs, funding, and industrial exercise develop.
‘’This coverage is subsequently not a burden, however a bridge — from dependence to independence, from vulnerability to energy.’’
What you must know
Nairametrics had earlier that President Bola Tinubu had permitted a 15% ad-valorem import obligation on diesel and premium motor spirit (PMS), generally generally known as petrol.
The approval was contained in a letter dated October 21, 2025, the place Damilotun Aderemi, the Non-public Secretary to the President, conveyed the directive to the Federal Inland Income Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Based on the letter, the choice adopted a request by the FIRS looking for the president’s consent to use a 15 per cent obligation on the price, insurance coverage, and freight (CIF) worth of imported petrol and diesel to align import prices with home realities.
The proposal sought the applying of a 15 per cent obligation on the price, insurance coverage and freight worth of imported petrol and diesel to align import prices with home market realities.
The FIRS Chairman, Zacch Adedeji, in his memo to the President, defined that the measure was a part of ongoing reforms to spice up native refining, guarantee value stability, and strengthen the naira-based oil financial system in step with the administration’s Renewed Hope Agenda for vitality safety and monetary sustainability.
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