MAN Applauds 15% Import Tariff on Petrol and Diesel as Catalyst for Local Industrial Growth

The Manufacturers Association of Nigeria (MAN) has thrown its full support behind the Federal Government’s recent approval of a 15% import tariff on petrol and diesel, describing it as a bold and strategic move that aligns with the “Nigeria First” agenda and reinforces the nation’s commitment to local content development.

This policy shift comes on the heels of MAN’s 53rd Annual General Meeting, themed “Nigeria First: Prioritizing Patronage of Made-in-Nigeria Products”, and signals a renewed government focus on strengthening indigenous manufacturing and energy sovereignty.

MAN’s Position

– Support Domestic Crude Supply: Full implementation of the PIA and the “Naira for Crude” model will ensure steady crude supply to local refineries, reduce forex pressure, and attract investment from refinery license holders.

– Promote Local Industry: Nigeria’s economic recovery depends on protecting local industries, boosting local patronage, and driving industrial growth through value addition and local content.

– Strengthen Refining Capacity: Despite vast oil reserves, Nigeria spends billions on fuel imports. Supporting local refining will save forex, stabilize the Naira, and create a better environment for investment.

A Strategic Step Toward Industrial Transformation

MAN views the tariff as a deliberate and patriotic instrument designed to:
– Promote local value addition and backward integration across the energy value chain
– Strengthen domestic refining capacity and reduce reliance on imported petroleum
– Conserve foreign exchange and stabilize the Naira
– Create a predictable fuel supply for manufacturers
– Generate employment and technical expertise
– Stimulate demand for Nigerian engineering, fabrication, and logistics services

“This policy reassures manufacturers that the government is listening and acting decisively to halt the bleeding of our economic patrimony,” said Segun Ajayi-Kadir, Director-General of MAN. “It’s a vital step toward energy independence and industrial sustainability.”

MAN’s Recommendations for Effective Implementation

While endorsing the tariff, MAN calls for transparent and balanced execution to ensure the benefits reach both industry and consumers. Key recommendations include:
– Transparent price monitoring by regulators to prevent excessive mark-ups
– Stable transition support for local refiners to avoid supply shocks
– Reinvestment of tariff revenue into energy infrastructure and industrial power schemes
– Support for SMEs, especially those reliant on diesel generators
– Incentives for new refineries to boost competition and capacity
– Stakeholder engagement to ensure policy coherence and market stability
– Privatization of government-owned refineries to end resource drain and unlock private sector efficiency.

In Conclusion

MAN reaffirms its commitment to the Nigeria First policy and urges all stakeholders to rally behind this transformative initiative. The association believes the tariff will accelerate Nigeria’s journey toward energy sufficiency, industrial competitiveness, and sustainable economic growth — all anchored on the strength of Made-in-Nigeria.