The Manufacturers Association of Nigeria (MAN) has expressed strong support for the recently approved 15 per cent import tariff on petrol and diesel, stating that the policy will reinforce local content and increase patronage of Made-in-Nigeria products.
In a statement released on Wednesday in Lagos, the Director-General of MAN, Mr. Segun Ajayi-Kadir, described the decision as a “strategic and patriotic step” that aligns with the Nigeria-First agenda and the association’s longstanding advocacy for stronger local content policies.
According to him, the tariff approval sends a clear signal that the government is committed to nurturing indigenous industries and enhancing national capacity. He added that the policy underscores the resolve to protect domestic resources, secure the country’s energy supply, and improve the welfare of citizens through sustainable industrial development.
Ajayi-Kadir noted that the introduction of the tariff will encourage value addition, boost the capacities of local refineries, conserve foreign exchange, and promote long-term industrialisation in the country. “It will also protect local producers, stem dumping, and create a more stable environment for emerging domestic refineries to thrive,” he said.
He further explained that the policy is expected to fast-track the operational readiness of local refineries, reduce supply disruptions, and stabilise the energy supply for businesses.
However, the MAN chief advised that the implementation of the tariff must be transparent and well-coordinated to ensure that the intended benefits reach both manufacturers and consumers while preventing undue cost escalation.
Ajayi-Kadir called for strict price monitoring to curb excessive mark-ups and deter anti-competitive practices. He also recommended temporary government support for local refiners, especially during the festive period, to ensure a stable fuel supply and prevent hoarding and speculative pricing.
Furthermore, he urged that revenue generated from the tariff be reinvested in energy infrastructure, refinery efficiency, industrial power support, and credit mechanisms for renewable transition. He also advocated for incentives to attract investment in modular and conventional refineries, thereby boosting local capacity and securing the energy sector.
Ajayi-Kadir concluded by calling for continued collaboration between refiners, marketers, regulators, and consumers to ensure policy consistency and market stability over the long term.
