The Manufacturers Association of Nigeria (MAN) has commended the Federal Government for approving a 15% import tariff on petrol and diesel.
MAN Director-General, Segun Ajayi-Kadir, stated that this policy aligns with the Nigeria First agenda and MAN’s advocacy for local content development and patronage of Made-in-Nigeria products.
According to Ajayi-Kadir, the tariff will promote local value addition, strengthen domestic refining capacity, conserve foreign exchange, and advance Nigeria’s long-term industrialization objectives.
He emphasised that supporting local refining capacity through appropriate policy tools will conserve scarce foreign exchange, improve the stability of the Naira, and foster a more favorable macroeconomic environment for investment.
Ajayi-Kadir called for transparent and efficient implementation to ensure the benefits reach both industry and consumers, safeguard competitiveness, and prevent unintended cost burdens.
He also urged the government to ensure transparent price monitoring, a stable transition period, and reinvestment of tariff revenue into energy infrastructure, refinery efficiency, and power support schemes for industries.
The MAN DG believes that this tariff will accelerate the country’s journey toward energy sovereignty, industrial competitiveness, and sustainable economic growth, all anchored on the strength of Made-in-Nigeria products.
He reiterated MAN’s committment to supporting the Federal Government’s Nigeria First policy direction, especially on local content development and a home-grown industrialisation agenda.
The approval of the 15% import tariff on petrol and diesel is seen as a major step in the right direction, and MAN is optimistic that it will have a positive impact on the economy.
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