The Federal Government has suspended the controversial 15% import duty on petrol and diesel, a move that has drawn widespread praise from independent oil marketers, who had previously protested against the policy.
The marketers argued that imposing the duty would amount to indirect regulation in a supposedly deregulated environment. They highlighted the role of imported petroleum products in preventing monopolies, fostering competition, and supplementing domestic refinery outputs, which remain insufficient to meet national demand.
President Bola Ahmed Tinubu had approved the duty in October 2025 following a request from the Federal Inland Revenue Service (FIRS). The policy, applied to the cost, insurance, and freight (CIF) value of imported petrol and diesel, was intended to make imported fuel less competitive, encourage local refining, boost domestic capacity, and moderate pump prices.
However, the policy faced strong opposition from Nigerians and oil marketers, who warned that its implementation could push fuel prices above N1,000 per litre. Some analysts also criticized the suspension, arguing that it represents a long-term misalignment with Nigeria’s energy security and industrial objectives, as imported fuel remains cheaper than locally refined products.
Despite this, the suspension has been welcomed by many as a sign that public opinion is being considered in national energy policy, reflecting ongoing debates about balancing local refining development with immediate consumer needs.
