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The Pros And Cons As President Tinubu Approves 15 percent Import Duty On Fuel

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By Yusuf Danjuma Yunusa

President Bola Tinubu has approved a 15 per cent import duty on petrol and diesel, a controversial move in which the government described as a tool to supporting local refining and boosting energy security, but which critics say could lead to an increase in fuel price.

The president’s approval was contained in a letter with reference no: PRES8197/HAGF/100/71/FIRS/40/88-2/NMDPRA/2, dated 21 October. The letter was addressed to the Attorney General of the Federation and Minister of Justice, Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The tariff allows for a 30-day window and adds to the controversy around petrol import and production in Africa’s largest oil producer.

The letter, titled ‘Re: introduction of a market-responsive import tariff framework on Premium Motor Spirit (PMS) & Diesel,’ was signed by Damilotun Aderemi, the Private Secretary of the President.

The president’s approval followed a request by FIRS Chairman, Zacch Adedeji, for the government to apply the tariff to align import costs with domestic realities.

Mr Adedeji said the duty, applied to the Cost, Insurance, and Freight (CIF) value, is expected to increase petrol prices by approximately N99.72 per litre. Despite this, Lagos pump prices are projected to remain around N964.72 per litre ($0.62), which is still lower than in neighbouring countries like Senegal, Côte d’Ivoire, and Ghana, he said.

He added that the tariff is not revenue-driven but corrective, aimed at aligning import costs with domestic realities while preserving affordability, noting that the implementation would commence after a 30-day transition window, allowing importers to adjust cargoes already in transit and ensuring a smooth rollout without market disruption.

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“The core objective of this initiative is to operationalise crude transactions in local currency, strengthen local refining capacity, and ensure a stable, affordable supply of petroleum products across Nigeria aligning with Your Excellency’s Renewed Hope Agenda for security and fiscal sustainability,” the FIRS chief wrote to the president.

Nigeria currently has no publicly functioning refinery, with the Dangote refinery producing almost all of the West African giant’s locally refined petroleum products.

Although Dangote refinery insists it can produce all of Nigeria’s local petrol needs, problems with regulators and other players in the downstream oil sector have ensured that the country continues to import about 15 per cent of its petrol needs.

President Tinubu’s directive is basically to ensure that imported petrol is not significantly cheaper than that produced by Dangote refinery.

Conversely, major marketers of petroleum products yesterday warned that the introduction of the 15 per cent import duty on petrol and diesel could signal another round of fuel price increase.

The approval of the duty by President Bola Ahmed Tinubu is causing division in the downstream sector of the oil and gas industry with some economic experts applauding the move as a welcome development aimed at discouraging importation of petroleum products and supporting local refineries, while others express worry over likely hike in prices of petroleum products.

“The issue around capacity that Dangote Refinery talked about is contestable and I don’t think the capacity is there yet. So if you are imposing this duty, it means we should be prepared for a new regime of fuel price increase.

“The truth is we are not getting enough from the refinery and we know that when we order from Dangote Refinery, we don’t get it on time,” one of the major marketers who spoke in confidence said.

Speaking with journalists, the Managing Director of 11PLC (formerly Mobil), Otunba Tunji Oyebanji said, “15 per cent to the government is a lot of revenue to the government but higher prices for Nigerians.”

The president of the Independent Marketers’ Association of Nigeria (IPMAN), Alhaji Abubakar Maigandi, in a chat with the correspondent of Daily Trust said the association would make its position known on Monday.

However, a former General Secretary of IPMAN, Mike Osatuyi, welcomed the move which he stated would support investment by the local refineries.

“The purpose is mainly to protect our local refineries. For decades, Nigeria has been known for importation of petroleum products and we are used to it. We are providing employment for the foreign countries at the expense of the economy of Nigeria.

“So Dangote wants to go to 1.4m barrels per day which is going to be the biggest in the whole world. By the time it comes up, then other refineries too are coming up, BUA Refinery too is coming up, all these local refineries need to be protected.

“If we didn’t do what the president has done we would kill the local refineries. So it is a good policy.”

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JUST IN: National Assembly to Re-gazette Tax Laws Amid Controversy

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By Yusuf Danjuma Yunusa

 

The National Assembly has directed the Clerk to re-gazette four major tax reform acts and issue Certified True Copies of the versions officially passed by parliament, following public controversy over discrepancies in the published laws.

In a Friday statement, House Spokesman Akin Rotimi said the leadership of both chambers authorized the move to “protect the integrity of the legislative record,” describing it as an administrative step to accurately reflect parliamentary decisions.

The directive addresses growing scrutiny over the Nigeria Tax Act (2025), Nigeria Tax Administration Act (2025), Joint Revenue Board of Nigeria (Establishment) Act (2025), and Nigeria Revenue Service (Establishment) Act (2025)—particularly concerning harmonization of bills, documentation sent for presidential assent, and the versions eventually published in the Official Gazette.

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Rotimi emphasized that the legislature is addressing the matter within its constitutional authority. Last week, the House formed a seven-member Ad Hoc Committee to investigate the legislative and administrative handling of the acts.

“The Committee, alongside relevant National Assembly bodies, is conducting an institutional review to establish the sequence of events and identify any contributing factors,” he stated, noting the review will examine potential “lapses, irregularities, or external interferences.”

The process, he added, complies fully with the Constitution, the Acts Authentication Act, and parliamentary standing orders.

While the re-gazetting aims to “clear any ambiguity,” Rotimi clarified that the review “does not constitute, imply, or concede any defect in the exercise of legislative authority.” He also stated the action is without prejudice to other arms of government and does not affect existing rights or legal processes.

Reaffirming its commitment to constitutionalism and the rule of law, the House pledged to take “appropriate corrective measures” if procedural refinements are needed.

The public was urged to allow the institutional process to proceed “without speculation or conjecture.”

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Airstrikes: Activist Sowore Decries Reckless Breach of Sovereignty By the U.S Government

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By Yusuf Danjuma Yunusa

Former presidential candidate Omoyele Sowore has issued a fierce condemnation of a confirmed U.S. military airstrike inside Nigeria, labeling the action a dangerous breach of sovereignty and an “imperialist move” by President Donald Trump.

Sowore’s warning follows President Trump’s announcement on Truth Social that he had ordered a “powerful and deadly strike” against ISIS fighters in northwest Nigeria. Trump justified the operation, stating the militants had been “viciously killing, primarily, innocent Christians” and that he had delivered promised retribution: “there was hell to pay.”

While the United States Africa Command (AFRICOM) confirmed the strike was conducted “at the request of Nigerian authorities,” Sowore argued that direct foreign military intervention is a catastrophic precedent.

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“Nobody should be rejoicing about this,” Sowore stated. “The U.S. could help the Nigerian military, but U.S. military carrying out an attack inside Nigeria is extremely dangerous, reckless, and bad.”

He described the event as “a sad day for the so-called African liberation and Independence.”

The strike triggered panic on the ground in Sokoto State. Residents of Jabo village reported a sudden, loud explosion on Christmas night, with many fearing an imminent attack. “It happened suddenly… The explosion caused fear, but thank God it did not land among people,” one eyewitness said.

U.S. Defense Secretary Pete Hegseth expressed gratitude for “Nigerian government support & cooperation” and ominously added there would be “more to come.”

The operation marks a sharp and controversial escalation of U.S. counter-terrorism activity in West Africa, raising urgent questions about sovereignty, foreign intervention, and the future of regional security partnerships.

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Nigeria Aides U.S in Sokoto Airstrike Against ISIS

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By Yusuf Danjuma Yunusa

President Donald J. Trump has announced that the United States carried out targeted military strikes against ISIS–affiliated militants in north-west Nigeria, marking a sharp escalation in American counter-terrorism operations in West Africa.

In a late-night statement published on Truth Social, the U.S. President said the operation was conducted under his direct orders as Commander-in-Chief, describing it as “a powerful and deadly strike” aimed at extremist elements responsible for repeated attacks in the region.

According to Mr Trump, the militants had been involved in brutal assaults on local communities, particularly targeting Christian populations. He said he had previously warned the group of consequences if the violence continued.

“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS terrorist scum in Northwest Nigeria, who have been targeting and viciously killing, primarily, innocent Christians… I have previously warned these terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was,” the statement read in part.

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He added that the “Department of War executed numerous perfect strikes,” asserting that the U.S. would not allow extremist groups to flourish under his leadership.

While the President praised the American military, he also issued a stern warning to the militants, saying there would be further consequences if attacks on civilians persisted.

Confirming the development, the Nigerian government through the Ministry of Foreign Affairs, stated that it provided the intelligence needed to the United States government concerning the airstrike.

“In line with established international practice and bilateral understandings, this cooperation includes the exchange of intelligence, strategic coordination, and other forms of support consistent with international law, mutual respect for sovereignty, and shared commitments to regional and global security,” said the ministry.

It further stated that Nigerian authorities remain engaged in structured security cooperation with international partners, including the United States of America, in addressing the persistent threat of terrorism and violent extremism.

On the particular location of the strike in the northwestern part of the country, netizens, particularly from Sokoto State, have confirmed that a rocket landed in Jabo Ward, under Tambuwal LG of Sokoto State, Nigeria this same night.

Similarly, the United States Africa Command(AFRICOM), an organization responsible for the United States military operations in the continent, in a series of posts on X, said the airstrikes were launched based on requests of the Nigerian government.

“AFRICOM conducted a strike at the request of Nigerian authorities in Sokoto State killing multiple ISIS terrorists. Lethal strikes against ISIS demonstrate the strength of our military and our commitment to eliminating terrorist threats against Americans at home and abroad,” the statement reads.

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