The Digest:
Energy experts have warned that the new 15% import duty on petrol and diesel could increase fuel prices by up to ₦150 per litre, sparking mixed reactions. While the government defends the policy as a necessary step to boost local refining, critics caution it could worsen inflation and disrupt supply without transparent refinery operations.
Key Points:
- President Tinubu approved a 15% import duty on petrol and diesel.
- Experts warn the policy could raise pump prices by up to ₦150 per litre.
- The move aims to protect local refineries and reduce import dependency.
- Critics fear it could worsen inflation and lead to fuel scarcity.
- PETROAN praised the policy as a step towards energy security.
- Concerns were raised about potential monopolies if local refining is dominated by a few players.
- The policy's success hinges on transparent operations and adequate crude supply to refineries.
Sources: Premium Times,
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