Table of Contents
- Rejection of Suspension
- A Step in the Wrong Direction
- Allegations of Panic Buying
- Joint Statement from NCG and YCW
- Petition to Authorities
- Call to Action
- Commitment to Local Refineries
The Nigeria Coalition Group (NCG) and the Yoruba Council Worldwide (YCW) have opposed the recent suspension of the 15% import duty tariffs on petroleum products.
They contend that this decision is misguided and should not have been implemented at a time when the importation of petroleum products ought to be discouraged.
The organizations believe this move does not serve the interests of Nigerians and undermines local refineries, as well as the economic wellbeing of the nation.
According to DAILY POST, Prince Damilotun Aderemi, the Principal Private Secretary to President Bola Ahmed Tinubu, announced the suspension of the tariff on Thursday.
Aderemi justified the suspension by citing alleged panic buying of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil.
However, the groups maintain that there is no evidence of panic buying or fuel scarcity in any region of Nigeria.
They described the suspension as “a figment of imagination” orchestrated by “desperate and influential oil cabals” aiming to continue the impoverishment and suffering of Nigerians.
In a joint statement, the NCG and YCW reiterated their call for the immediate reinstatement of the 15% import duty tariffs, advocating for a complete ban on petroleum imports to safeguard local refineries.
The groups referenced a recent presentation made on November 12, 2025, to the Executive Governor of Lagos State, Babajide Sanwo-Olu, and the Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, through the House Leader, Honourable Noheem Adams, where they urged prompt action to protect indigenous refineries from intimidation, under-supply, and economic sabotage.
The coalition has filed a petition with the Economic and Financial Crimes Commission (EFCC), the Nigeria Police Force, and the Department of State Services (DSS) to reinforce their demands.
Aare Oladotun Hassan, Esq., President and Convener of NCG, emphasized that “the suspension is a perilous policy that jeopardizes national economic stability” and urged Nigerians to unite in protecting local petroleum investments.
The NCG and YCW stated their commitment to ensuring that local refineries receive 100% of crude oil allocation while promoting policies that reduce dependence on imported petroleum products and enhance Nigeria’s energy self-sufficiency.
Frequently Asked Questions
Why did the NCG and YCW reject the suspension of the 15% import duty tariffs?
They believe the decision is misguided and detrimental to local refineries and the economy of Nigeria.
What reasons were given for the suspension of the tariffs?
The Principal Private Secretary to the President cited alleged panic buying of petrol and Automotive Gas Oil as justifications for the suspension.
What actions have the NCG and YCW taken in response to the suspension?
They have issued a joint statement demanding the immediate reinstatement of the tariffs and filed petitions with various authorities to support their cause.
