KEY POINTS
- Dangote Group says 15 percent import tariff won’t raise fuel prices.
- The policy aims to stop dumping and support local refining.
- The tariff supports Nigeria’s drive for energy independence.
The Dangote Group has moved to calm public concern over the government’s newly approved 15 percent import tariff on petrol and diesel, assuring that the policy will not trigger an increase in fuel prices.
The Group’s Chief Corporate Communications Officer, Anthony Chiejina, told Arise News on Sunday that Nigerians should dismiss fears of a price hike. He said the government introduced the tariff to discourage dumping and promote local refining, not to raise pump prices.
“Yeah, I’ve heard what people are saying, but I will tell you that is a misplaced fear, highly misplaced,” Chiejina said. “This 15 percent tariff is about preventing dumping; it’s not about high pricing. I can assure you that our price will remain stable between now and the end of the year.”
He also responded to criticism from All Progressives Congress chieftain Chief Ayiri Emami, who faulted President Bola Tinubu’s decision to impose the import duty. Emami had argued that the policy would worsen the hardship faced by ordinary Nigerians. Chiejina dismissed that claim, stating that the measure aligns with international trade standards designed to protect local industry.
Policy to promote local refining
“So it’s about preventing dumping. No nation advocates for dumping. Dumping is not good for business. It doesn’t create employment or yield wealth for industrialisation. Government loses income and taxes they’re supposed to earn. These are key levers of growth in a normal economy,” he said. “That is why every government takes steps to protect its own industry.”
The Presidency confirmed on Friday that President Tinubu had approved a 15 percent import tariff to strengthen Nigeria’s long-term energy independence. It described the tariff as a deliberate strategy aimed at driving sustained investment and improving competitiveness within local refining operations across Nigeria.
“For years, the nation has relied heavily on imported fuel despite being one of the world’s foremost crude oil-producing countries,” it said.
This dependence has drained valuable foreign exchange reserves and exported many jobs that should have been created within Nigeria’s domestic refining industry. According to Punch, the Presidency explained that the new policy intends to reverse that dependence by promoting local refining and development.
The initiative seeks to expand domestic refining capacity and ensure Nigeria’s oil wealth directly supports inclusive growth and widespread national prosperity. By maintaining that fuel prices will remain stable, the Dangote Group expressed confidence in Nigeria’s refining capacity and long-term energy stability.
