The Abuja Chamber of Commerce and Industry (ACCI) has urged the gradual implementation of the Federal Government’s 15 per cent fuel import tax to ensure economic stability and protect consumers.
The ACCI commended the government’s commitment to strengthening domestic refining capacity through the new policy but cautioned against sudden enforcement, which could trigger inflation and weaken business confidence.
This is according to a statement by Chief Emeka Obegolu, President of the ACCI, on Tuesday in Abuja.
Obegolu described the policy as strategic and transformative but called for phased execution to prevent unintended economic disruptions.
He said the move would boost local refining, conserve foreign exchange, and promote industrial growth, but emphasised the need for a gradual rollout.
Obegolu explained that a step-by-step implementation would allow the market to adjust, prevent supply shortages, and curb sharp fuel price increases that could affect transport and food costs.
He noted that the success of the new tariff would depend on transparency, effective coordination, and stakeholder engagement, involving refineries, marketers, transport unions, and consumer groups.
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The ACCI president said the chamber was ready to collaborate with relevant ministries and agencies to design a framework balancing industrial protection and consumer welfare.
He recommended that part of the projected revenue from the tax be used to support transport subsidies, small businesses, and modular refinery expansion.
Obegolu added that, if properly managed, the 15 per cent fuel import tax could become a cornerstone for Nigeria’s energy independence and sustainable economic growth.
He stressed that the policy should represent a carefully managed transition that safeguards livelihoods while promoting local production.
The 15 per cent fuel import tax was approved by President Bola Tinubu on 21 October 2025 and announced on 30 October 2025.
