ECCIMA backs FG’s 15% import tax on petrol and diesel, says policy will spur jobs, economic growth

The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has applauded the Federal Government’s introduction of a 15 per cent import tax on petrol and diesel, describing it as a bold and strategic step toward stimulating economic growth, boosting local production, and generating employment opportunities for Nigerians.

In a statement, ECCIMA said the measure aligns with the government’s “Nigeria First” policy, adding that the decision would help curb excessive dependence on imported goods, strengthen the naira, and revitalise local industries.

The Chamber noted that the continued importation of refined petroleum products has been a major drag on Nigeria’s economy since the 1990s – an era it described as the beginning of the country’s gradual economic decline.

“The naira cannot appreciate when over 80 per cent of national consumption depends on imports,” ECCIMA stated. “By imposing higher tariffs on goods that can be produced locally, the Federal Government is taking a decisive step to protect and rebuild domestic industries.”

It lamented that the inability of the Nigerian National Petroleum Company (NNPC) Limited to restore operations at the country’s three government-owned refineries, coupled with the indiscriminate issuance of fuel import licences, has worsened Nigeria’s economic challenges and external imbalances.

ECCIMA emphasised that the policy aligns with global best practices, citing countries like the United States and China, which have long implemented protective measures to encourage local production, meet domestic needs, and strengthen their balance of trade.

The Chamber also commended Alhaji Aliko Dangote, Chairman of the Dangote Group, for his “visionary investment” in the Dangote Petroleum Refinery, noting that the facility is already helping to meet local demand while generating foreign exchange for the country.

It expressed optimism that the planned expansion of the refinery’s capacity from 650,000 barrels per day to 1.4 million barrels per day will further boost Nigeria’s self-sufficiency and reduce its reliance on imported fuel.

To consolidate the gains of the new policy, ECCIMA urged the Federal Government to issue more refinery licences to indigenous investors, arguing that oil remains Nigeria’s main foreign exchange earner and that encouraging private sector participation in refining is key to long-term stability.

“Government should eliminate bureaucratic bottlenecks in refinery licensing to attract investors, foster competition, and ensure steady supply for domestic and export markets,” the statement said.

ECCIMA stressed that with effective implementation, Nigeria could become a global hub for refined petroleum exports, supporting industrial growth and creating thousands of jobs.

The Chamber reaffirmed its full support for private-sector-led refining initiatives and called on all stakeholders to rally behind the government’s “Nigeria First” policy to achieve a stronger, more resilient, and self-sustaining national economy.