Nigeria: Tinubu Government Imposes 15% Import Duty on Petrol and Diesel | Firstpost Africa #Firstpost
Nigeria: Tinubu Government Imposes 15% Import Duty on Petrol and Diesel | Firstpost Africa
Nigeria has reportedly approved a 15% import duty on petrol and diesel, aiming to boost domestic fuel production and protect multi-billion-dollar investments like the Dangote Refinery. The move, signed by President Bola Tinubu on October 21, is part of wider fiscal reforms to reduce cheap imports and increase non-oil revenue. Fuel prices could rise by over 10%, impacting transport, manufacturing, and consumers, but Abuja says the reform will drive self-sufficiency and stabilise the petroleum market. Africa’s crude giant is cutting out the middleman, building its own energy future.
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