Nigeria has dropped its plan to impose a 10 percent tariff on imported petrol and diesel, following strong opposition from domestic stakeholders and industry groups concerned about supply disruptions and consumer costs. The decision, announced by the Ministry of Finance, marks a shift in the government’s approach to supporting local refiners while maintaining market stability, as reported by Bloomberg.
“The government listened to the concerns raised by stakeholders and decided that imposing the tariff at this time could have unintended consequences on consumers,” said a spokesperson for the Ministry, according to Business Insider.
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Analysts said the move removes a potential cost burden on both consumers and businesses, while allowing local refiners more time to ramp up production without immediate protectionist measures. Market watchers note that the government remains committed to strengthening domestic refining capacity through other incentives and policies.
