The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has commended the Federal Government’s decision to impose a 15 percent tax on imported petrol and diesel, describing it as a bold and strategic policy that will stimulate economic growth, promote local production, and create employment opportunities for Nigeria’s teeming youth population.
In a statement issued in Enugu, ECCIMA noted that the move aligns with its long-held position that the naira cannot gain strength while the country remains heavily dependent on imported goods. The chamber argued that excessive importation of finished products continues to weaken the local currency, especially when many of these goods can be produced domestically.
“By imposing higher tariffs on products that can be manufactured within Nigeria, the government is taking a critical step toward protecting and revitalizing local industries,” ECCIMA said.
The Chamber recalled that Nigeria’s reliance on imported refined petroleum products dates back to the 1990s—an era that marked the beginning of the nation’s gradual economic decline. Since then, the persistent depreciation of the naira has been compounded by the inability of the Nigerian National Petroleum Company (NNPC) Limited to revive the country’s three government-owned refineries, as well as by the indiscriminate issuance of fuel import licenses.
ECCIMA further drew parallels with major global economies such as the United States and China, which have implemented strict trade policies to discourage the importation of goods that can be locally produced. “These countries prioritize domestic production to meet internal demand and strengthen their balance of trade. Nigeria must embrace similar strategies to achieve sustainable economic transformation,” the statement added.
The Chamber also commended Alhaji Aliko Dangote, Chairman of the Dangote Group, for his visionary investment in the Dangote Petroleum Refinery, describing it as a game-changer for the country’s energy sector. It noted that the refinery is already helping to meet domestic needs and earning foreign exchange for Nigeria.
“The planned expansion of the refinery’s capacity from 650,000 barrels per day to 1.4 million barrels per day reinforces confidence that Nigeria can meet its local demand and reduce reliance on imports,” ECCIMA stated.
To complement the government’s fiscal measures, ECCIMA urged authorities to issue more licenses to indigenous companies for the establishment of modular and large-scale refineries. It emphasized that eliminating bureaucratic bottlenecks in the licensing process would attract investors, foster competition, and ensure adequate supply for both domestic and export markets.
“Nigeria has the potential to become a global leader in refined petroleum exports if this policy is effectively implemented.”
