Petroleum marketers have raised alarm over the Federal Government’s proposed 15% import duty on fuel products, warning that the policy could severely disrupt operations and worsen Nigeria’s fuel supply challenges.
According to industry sources, the new levy — expected to apply to imported petrol, diesel, and aviation fuel — would significantly increase landing costs and retail prices at a time when businesses are already struggling with high exchange rates and logistics expenses.
Marketers argue that the additional cost burden could force many independent operators out of business, further consolidating the market in the hands of a few major importers. They also warn that consumers may soon face higher pump prices if the policy is implemented without supporting measures.
Industry groups are urging the government to reconsider or suspend the proposed duty, noting that fuel imports remain vital until local refineries — including the Dangote Refinery and state-owned plants — begin consistent production.
Stakeholders say that while the policy aims to boost government revenue and encourage local refining, its timing could be counterproductive, given the fragile state of the downstream sector and Nigeria’s ongoing battle with inflation and currency depreciation.
