FEDERAL GOVT. DEFENDS 15% IMPORT DUTY ON REFINED PETROLEUM PRODUCTS

The presidency has defended the 15 per cent import duty on refined petroleum products recently approved by president bola tinubu, stating that the policy aims to reshape Nigeria’s energy landscape.

Former SDP presidential candidate Adewole Adebayo, in an interview with the journalist, slammed the policy as anti-people, accusing president tinubu of burdening Nigerians with endless taxes amid unprecedented hardship.

However, presidential spokesperson Sunday Dare said today that the new policy was designed to reverse that trend by encouraging local refining, boosting domestic capacity and ensuring that Nigeria’s oil wealth translates directly into national prosperity.
According to the presidency, the policy became essential because Nigeria had long depended heavily on imported fuel, despite being a leading crude oil producer, which drained foreign exchange and led to the export of jobs that should have been created at home.
The presidency has defended the 15 per cent import duty on refined petroleum products recently approved by president bola tinubu, stating that the policy aims to reshape Nigeria’s energy landscape.

Former SDP presidential candidate Adewole Adebayo, in an interview with the journalist, slammed the policy as anti-people, accusing president tinubu of burdening Nigerians with endless taxes amid unprecedented hardship.

However, presidential spokesperson Sunday Dare said today that the new policy was designed to reverse that trend by encouraging local refining, boosting domestic capacity and ensuring that Nigeria’s oil wealth translates directly into national prosperity.

According to the presidency, the policy became essential because Nigeria had long depended heavily on imported fuel, despite being a leading crude oil producer, which drained foreign exchange and led to the export of jobs that should have been created at home.

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