The Dangote Group has assured Nigerians that fuel prices will not increase despite the Federal government’s approval of a 15 per cent import tariff on petrol and diesel.
The Group’s Chief Corporate Communications Officer, Mr. Anthony Chiejina, stated this on Sunday during an interview with Arise News, following public concerns that the new tariff might trigger a hike in pump prices.
Chiejina described such fears as “misplaced,” saying the 15 per cent tariff was introduced to discourage dumping and encourage local refining.
“Yeah, I’ve heard what people are saying, but I will tell you that is a misplaced fear — highly misplaced.
“This 15 per cent tariff is about preventing dumping; it’s not about high pricing. I can assure you that our price will remain stable between now and the end of the year,” he said.
He also dismissed previous claims made by All Progressives Congress chieftain in Delta State, Chief Ayiri Emami, who faulted President Bola Tinubu’s approval of a 15 per cent ad-valorem import duty on petrol and diesel, warning that the move would worsen the suffering of ordinary Nigerians and lamented that the policy would “hurt the masses, not marketers.”
Chiejina clarified that the policy was in line with global trade practices and aimed at protecting the domestic economy.
“So it’s about preventing dumping. No nation advocates for dumping. Dumping is not good for business — it doesn’t create employment or yield wealth for industrialisation. Government loses income and taxes they’re supposed to earn. So these are key levers of growth in a normal economy. So that is where every government goes to protect its own industry,” he added.
The Presidency, in a statement on Friday, confirmed President Tinubu’s approval of the 15% import tariff, describing it as a strategic measure to stimulate local refining and strengthen Nigeria’s energy independence.
The statement read: “For years, the nation has depended heavily on imported fuel despite being a leading crude oil producer, draining foreign exchange and exporting jobs that should have been created at home.
“This new policy is designed to reverse that trend by encouraging local refining, boosting domestic capacity, and ensuring that Nigeria’s oil wealth translates directly into national prosperity.”