The Manufacturers Association of Nigeria (MAN) said the recently approved 15 per cent import tariff on petrol and diesel will strengthen local content and deepen support for Nigerian-made products.
This was stated by Segun Ajayi-Kadir, Managing Director of MAN, in a statement on Wednesday in Lagos.
He described the tariff as a strategic and patriotic move aligned with the Nigeria First agenda and MAN’s continued push for local content and sponsorship.
According to him, the decision assured manufacturers that the government remains committed to fostering local industry and strengthening national capacity.
He said the policy indicated determination to protect national resources, secure energy supply and improve the well-being of Nigerians through sustainable industrial development.
Ajayi-Kadir added that the tariff would promote value addition, increase refinery capacity, save foreign exchange and support long-term industrialization.
He said it would protect local producers, curb dumping and provide a stable environment for emerging domestic refiners to grow.
The MAN boss noted that it would speed up the operational availability of refineries, reduce supply disruptions and stabilize power for companies.
However, he urged transparent and coordinated implementation to ensure benefits reach manufacturers and consumers and avoid unwanted cost pressures.
Ajayi-Kadir called for effective price monitoring to stop excessive markups and discourage anti-competitive practices.
He advised temporary government support for local refineries to safeguard fuel supplies, especially during the festive season, and prevent hoarding or price gouging.
Additionally, he urged that tariff revenues be reinvested in energy infrastructure, refinery efficiency and energy support for industry, including credit for the transition to renewable energy.
Ajayi-Kadir said the government should introduce incentives to attract investment in modular and conventional refineries, strengthening capacity and securing energy.
He also called for sustained engagement among refiners, marketers, regulators and consumers to maintain policy coherence and market stability.