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The Conference of Registered Voters in Nigeria (CRVN) has characterized President Bola Ahmed Tinubu’s endorsement of a 15 percent import duty on petrol and diesel as a beneficial policy that will revolutionize Nigeria’s petroleum sector, safeguard local investments, and propel the country toward energy independence.

In a statement released on Saturday, the group’s National President, Dr. Ebikeme Edesiri, praised President Tinubu for his courageous and strategic approach to economic reform, asserting that the policy reflects foresight and a genuine commitment to fostering a robust domestic economy.

Edesiri emphasized that the decision is protective rather than punitive, aimed at shielding Nigeria’s refining industry from unfair competition, enhancing job security, and bolstering investor confidence.

“This policy is advantageous for the government, industry, and the populace. By limiting the influx of inexpensive imported fuel, we will safeguard the significant investments made in domestic refining. It is a pragmatic step towards achieving energy independence and fostering national pride,” the statement asserts.

The CRVN further clarified that the policy is expected to attract additional investors to the energy sector, generate employment opportunities, strengthen the naira, and enhance government revenue for national development.

Dr. Edesiri stated that this initiative aligns with President Tinubu’s comprehensive economic reform agenda, which includes the elimination of fuel subsidies, the unification of the exchange rate, and the diversification of non-oil revenue sources, all aimed at positioning Nigeria for sustainable growth.

“Each of these reforms reflects a consistent and visionary economic trajectory. President Tinubu is not engaging in political maneuvering with policy; he is making tough yet essential decisions that will secure Nigeria’s economic future,” Edesiri remarked.

The group urged the federal government to guarantee transparency in managing the revenue generated from the import duty and to allocate the funds toward critical infrastructure, including roads, power, and healthcare.

The CRVN also appealed to Nigerians to remain patient and supportive of the reforms, stressing that no nation achieves self-sufficiency overnight.

“What we are witnessing is a deliberate effort to rebuild our economy from within. It requires the cooperation of every Nigerian,” the group emphasized.

Edesiri concluded by describing the import duty as a symbol of national renewal, reiterating CRVN’s confidence in President Tinubu’s leadership and his vision for economic independence.

“This 15 percent import duty will safeguard Nigerian refineries, stimulate growth, and secure jobs. We stand firmly behind the President and his reform agenda that brings development closer to the average citizen,” he added.

What is the purpose of the 15 percent import duty on petrol and diesel?

The purpose of the 15 percent import duty is to protect Nigeria’s refining industry, safeguard local investments, and promote energy independence by reducing the influx of cheap imported fuel.

How does this policy benefit the Nigerian economy?

This policy is expected to attract more investors to the energy sector, create job opportunities, strengthen the naira, and increase government revenue for national development.

What should Nigerians expect from these reforms?

Nigerians should expect a gradual improvement in the economy as these reforms aim to build a self-sufficient economy over time, requiring patience and cooperation from all citizens.

Eze Chidiebere Paul

Eze Chidiebere Paul

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