By Onyeanya Ebere Immaculata
Former National Operations Controller of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mike Osatuyi, has hailed President Bola Tinubu’s approval of a 15% import duty on petrol and diesel, describing it as a strategic step to protect local refineries and attract investors.
Osatuyi told the Newsmen in Lagos that the policy would strengthen domestic refining, discourage excessive importation, and promote fair competition.
He said the measure reflects the government’s commitment to supporting private refineries like Dangote and modular plants, generating jobs, and conserving foreign exchange.
“The 15% import duty is not just a revenue measure but a protective policy that ensures local refineries remain viable against imported products,” he said.
Osatuyi commended the Dangote Refinery’s capacity to meet national demand and urged regulators to prevent hoarding or price manipulation under the new regime.
