Petroleum marketers have warned that petrol prices could soon rise above ₦1,000 per litre after President Bola Tinubu approved a 15% import tax on fuel.
The new policy, which starts after a 30-day transition ending November 21, 2025, aims to protect local refineries and reduce the importation of cheaper foreign fuel.
However, marketers say the move will increase prices and worsen the suffering of Nigerians.
One depot operator said, “Fuel may soon sell for over ₦1,000 per litre. I don’t know why the government keeps making life harder for people.”
Another marketer explained that since most importers are now working with the Dangote Refinery, all companies raised their prices together during the last increase.
The Vice-President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, said the new tariff could help local refineries but may also raise prices and create monopoly fears.
He said, “The government wants to protect local refiners, but it might make fuel scarce if those refineries can’t produce enough. My advice to the NNPC is to speed up efforts to repair the Port Harcourt, Warri, and Kaduna refineries.”
The National President of the Petroleum Products Retail Outlet Owners Association (PETROAN), Billy Gillis-Harry, described the policy as a “win-win” move but warned that it must ensure both fuel availability and affordability.
He said, “Everyone depends on Dangote right now, but Dangote alone cannot supply the country. We need a mix of local and imported products.”
According to a presidential letter dated October 21, 2025, and signed by Tinubu’s private secretary, the tariff will be collected on the cost, insurance, and freight value of imported fuel.
The money will go into a federal government account managed by the Federal Inland Revenue Service (FIRS).
FIRS Chairman Zacch Adedeji explained that the policy will raise the landing cost of petrol by about ₦100 per litre, but it will help local refiners compete fairly and attract more investors.
He added that the goal is not to make money but to fix price differences between imported and locally produced fuel and to support refining within Nigeria.
Under the new rule, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) will issue new import regulations and prioritize locally refined fuel before granting import licenses.
The regulator is also required to review the tariff periodically and may reduce or remove it as local refining increases.
Meanwhile, NMDPRA spokesperson George Ene-Ita said the agency will fully implement the new directive once officially informed, stressing that market forces will continue to determine pump prices.
Energy expert Olatide Jeremiah warned that while the tariff will help local refiners, it will likely add ₦100 to the price of petrol and diesel and could cause short-term supply problems.
Some politicians and citizens criticized
the move. APC chieftain Chief Ayiri Emami said the policy would make life harder for ordinary Nigerians and urged Tinubu to suspend it.
“Any tax on fuel affects the poor, not marketers. People are already struggling to survive. Let’s fix things first before adding new taxes,” he said.
Reactions on social media were mixed.
Some Nigerians supported the move, saying it would boost local production. Others argued it would give Dangote too much control and contradict the idea of a deregulated market.
Supporters described the tariff as a step toward economic independence, while critics warned it would create monopoly and higher fuel prices.
This report has been simplified and edited for clarity. All advertisements and unrelated content have been removed.