The Enugu Chamber of Commerce, Industry, Mines, and Agriculture (ECCIMA) has commended the Federal Government’s decision to impose a 15% tax on imported petrol and diesel, describing it as a bold and strategic move that will stimulate economic growth, encourage local production, and create employment opportunities for Nigeria’s growing youth population.
ECCIMA believes that this policy will help protect and revitalise local industries, reduce the country’s reliance on imports, and strengthen the naira.
The Chamber of Industry and Mines has also commended Aliko Dangote for his investment in the Dangote Petroleum Refinery, which is already meeting domestic needs and earning foreign exchange for Nigeria.
The planned expansion of the Dangote refinery’s capacity from 650,000 barrels per day to 1.4 million barrels per day is expected to further reinforce confidence in Nigeria’s ability to meet its local demand and reduce reliance on imports.
ECCIMA has urged the Federal Government to issue more licenses to indigenous companies for refinery development, which will attract more investors, foster competition, and ensure adequate supply for both domestic and export markets.
ECCIMA has called on the Federal Government to eliminate bureaucratic bottlenecks in licensing and provide full support to stakeholders with the capacity to transform the country from a net exporter of crude oil to a net exporter of refined products.
The Chamber believes that Nigeria has the potential to become a global leader in refined petroleum exports if this policy is effectively implemented.
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