The Digest:
Billionaire businessman Femi Otedola has endorsed President Bola Tinubu's new 15% import tariff on petrol and diesel, describing it as a vital policy to protect local investments in Nigeria's refining sector and prevent the collapse of domestic energy industries.
Key Points:
- Femi Otedola commended the policy via a post on his official X account.
- He stated the tariff will safeguard local industries with domestic production capacity.
- Otedola warned against repeating past mistakes where imports crippled local sectors.
- The policy aims to provide investor certainty and support long-term price stability.
- It is also intended to help control inflation and ensure economic stability.
- The businessman praised Tinubu's vision for steering Nigeria toward a $1 trillion economy.
- The tariff is designed as a "bridge, not a burden" to achieve energy self-sufficiency.
Sources: Punch Newspapers, X
