Nigeria has introduced a 15 percent import duty on petrol and diesel as part of new measures to encourage domestic refining and reduce reliance on imported fuels. The policy, announced by the Federal Ministry of Finance, is expected to protect investments in local refineries, including the Dangote Refinery and state-owned facilities under rehabilitation.
The decision aligns with the government’s broader energy reform agenda aimed at achieving fuel self-sufficiency by 2026. Officials said the import duty would make local production more competitive while supporting foreign exchange stability by cutting down on fuel import bills. “This is about striking a balance between promoting industrial growth and ensuring energy security,” a senior finance ministry official told Reuters.
Analysts cited by BusinessDay and Bloomberg noted that while the policy could drive growth in the refining sector, it may temporarily raise pump prices until local supply stabilizes. They added that sustained investment in pipeline infrastructure and distribution networks will be critical to realizing the intended benefits.
Industry observers see the move as a signal of Nigeria’s renewed push to strengthen its downstream oil sector following years of subsidy-driven import dependence.
