The Dangote Group has assured Nigerians that petrol and diesel prices will remain stable despite the Federal Government’s recent approval of a 15% import tariff on refined petroleum products.
Speaking during an interview with Arise News on Sunday, the Group’s Chief Corporate Communications Officer, Anthony Chiejina, dismissed public fears of a price increase, describing them as “misplaced.”
According to Chiejina, the tariff was introduced primarily to prevent fuel dumping and to encourage local refining rather than to raise prices. “The 15% tariff is about preventing dumping, not inflating pump prices. I can assure you that our fuel prices will remain stable through the end of the year,” he stated.
The move follows comments by Chief Ayiri Emami, a chieftain of the All Progressives Congress (APC) in Delta State, who had criticized the policy as potentially harmful to Nigerians. However, Chiejina emphasized that the measure aligns with global best practices aimed at protecting domestic industries and creating jobs.
He added, “Dumping hurts economic growth and reduces employment opportunities. This tariff helps safeguard local industries, boost industrialization, and protect government revenues.”
A statement from the Presidency confirmed that President Bola Tinubu approved the tariff as part of efforts to promote local refining, strengthen energy independence, and conserve foreign exchange.
“For decades, Nigeria depended on imported fuel despite being a major crude producer. This new policy seeks to reverse that trend by encouraging local refining and ensuring that our oil wealth drives national development,” the statement said.
