15% Tariff On Fuel Importation: Coalition Sends Important Message To Tinubu

• A coalition of civil rights groups applauded President Tinubu for approving a 15% fuel import duty
• The convener Agabi Emmanuel said the policy protected local refineries and would ensure steady supply despite short-term price adjustments
• The coalition urged parliament to fast-track support measures and appealed to opposition parties and global partners to back the policy for national progress

A coalition of civil-society organisations under the banner of the Coalition of Civil Rights Activists has applauded President Bola Ahmed Tinubu for approving a 15% import duty on refined petroleum products.

The coalition also called the move “a watershed decision in Nigeria’s history” aimed at ending the dumping of sub-standard fuels and chronic supply disruptions.

Tinubu's policy seen as protection for local refineries

In a statement cited by Legit.ng on Monday, November 3, the convener Mr Agabi Emmanuel said the tariff is a strategic tool designed to protect Nigeria’s emerging refinery sector from unfair foreign competition.

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“This 15% duty will stop the flood of fake and adulterated products that have damaged engines, polluted our environment and put lives at risk.

“It will also ensure steady supply because local refineries will now operate at full capacity without fear of being undercut by below-cost imports," Emmanuel stated.

Short-term pain for long-term gain

Emmanuel read from a 23-point communiqué, insisting that short-term price adjustments at the pump are acceptable in exchange for “long-term energy security and industrial sovereignty”.

“This is not a revenue-grab. It is a strategic lever for structural transformation,” he argued.

Adding:

“Critics calling this policy pro-monopoly are misguided. Regulatory safeguards exist to prevent market domination.”

Call for social support measures

The coalition urged the National Assembly to expedite social-support measures, including targeted tax relief and financial assistance to vulnerable households.

“We call on the Presidency to publish a clear implementation timetable and transparent revenue-allocation framework within 14 days,” Emmanuel said.

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Opposition urged to cooperate

In an appeal to opposition political stakeholders, Emmanuel urged unity over confrontation.

“Join hands with Mr President to bury the subsidy ghost forever. History will judge those who prioritise partisan point-scoring over national rebirth," he said.

International support sought

The group also encouraged international institutions, including the World Bank and African Development Bank, to provide concessional financing and technical support to optimise the policy’s benefits.

Emmanuel praised President Tinubu as “a visionary and patriotic leader” and encouraged Nigerians to remain supportive.

“Nigerians, remain patient, remain vigilant, remain engaged. From dependence to dignity, that is the promise of this 15% tariff,” he said.

Tinubu requests for $1bn loan

The World Bank has confirmed that the Nigerian government has requested $1 billion Development Policy Financing loan.

The Bretton Woods Institution has now set December 16 as the tentative approval date for the loan request.

Source: Legit.ng