President Bola Tinubu has approved a 15% fuel import tariff, a move the government says will protect local refineries and drive energy independence. Critics warn it could push pump prices above ₦1,000 per litre. (Photo: State House/Presidency)
President Bola Tinubu has approved a 15 per cent import tariff on petrol and diesel, aimed at stimulating local refining and strengthen Nigeria’s energy independence.
The confirmation came on Friday through a statement by the Special Adviser to the President on Media and Public Communications, Sunday Dare, who announces the decision via his official X handle.
Dare described the new policy as “a bridge, not a burden,” stressing that it was designed to transform Nigeria’s petroleum landscape and secure long-term economic stability.
“For years, Nigeria has depended heavily on imported fuel despite being a leading crude oil producer. This policy reverses that trend by encouraging local refining, boosting domestic capacity, and ensuring that our oil wealth translates directly into national prosperity,” Dare said.
According to him, the measure aims to make imported petroleum products less competitive, tilting the market in favour of local refineries such as Dangote, Port Harcourt, and other modular plants under construction.
He added that as domestic refining capacity increases, supply will stabilize and pump prices are expected to moderate over time. The government believes the policy will stimulate industrial activity, create jobs, and attract fresh investments into the downstream petroleum sector.
“This policy is not a burden, but a bridge from dependence to independence, from vulnerability to strength,” Dare stated.
However, petroleum marketers have expressed concerns that the decision could trigger a hike in pump prices.
Depot operators told journalists that fuel prices, currently around N920 per litre, could rise above N1,000 per litre once the tariff takes effect.
The National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, acknowledged the government’s intent to protect local refiners but warned of potential monopolistic tendencies.
“The 15 per cent tariff has both positive and negative implications. While it may promote local refining, it could also discourage importers and lead to higher pump prices,” Fashola said.
The tariff, which follows a 30-day transition period ending November 21, 2025, is part of a broader “market-responsive import tariff framework” aimed at curbing overreliance on imported fuel.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) show that petrol imports accounted for 69 per cent of Nigeria’s total fuel demand between August 2024 and October 2025.
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