Fuel Marketers: New 15% Tariff May Push Petrol to N1,028 Per Litre

Fuel Marketers: New 15% Tariff May Push Petrol to N1,028 Per Litre

However, the Dangote Petroleum Refinery reports it now produces 45 million liters of PMS and 25 million liters of diesel daily, asserting its capacity exceeds domestic demand. Northern industrialists, led by Muhammad Nura Madugu of MAN’s Sharada-Challawa branch, have endorsed the tariff as a strategic move to boost local production and competitiveness.

The policy has garnered additional support from Muhammad Bello Isyaku Umar, Chairman of MAN’s Kano-Jigawa Branch, who believes it will strengthen the economy by reducing import dependence and foreign exchange demand, though he acknowledges potential short-term price increases.

The debate highlights the complex balance between protecting domestic refineries and managing consumer costs as Nigeria transitions toward greater energy independence. The policy’s implementation comes at a crucial time as the country works to expand its domestic refining capacity while managing the economic impact on consumers.