Chukwu Obinna 
ABUJA, Nigeria – Nigeria is set for potential fuel price adjustments following President Bola Ahmed Tinubu’s approval of a 15 per cent import duty on petrol and diesel, aimed at boosting the competitiveness of domestic refineries.
The directive, communicated to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), takes effect immediately.
FIRS Chairman Zacch Adedeji said the policy seeks to stabilise the downstream sector. “The objective is to support local refining capacity and ensure sustainable supply,” he stated. The tariff will be calculated based on the cost, insurance, and freight of imported fuel.
The policy addresses concerns that duty-free imports have discouraged investment in Nigeria’s growing refining sector, including the 650,000 barrels-per-day Dangote Refinery and emerging modular refineries.
Analysts warn that the duty could add about ₦99.72 per litre to landing costs, with pump prices in Lagos projected to reach an estimated ₦964.72 per litre. Despite this, Nigeria’s fuel costs would remain below those of Ghana and Senegal.
The tariff aligns with broader economic reforms promoting local currency transactions in petroleum markets. The government says the shift will encourage refinery viability, enhance market transparency, and protect consumers from volatile global pricing.
With imported petroleum still accounting for up to 67 percent of Nigeria’s consumption, the impact will be closely monitored across supply chains.
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