The Federal Government has been advised to halt the proposed 15 percent import tariff on petrol and diesel, as the policy risks creating artificial scarcity and undermining the ongoing deregulation of the downstream oil sector.
Executive Director, Peering Advocacy and Advancement Centre in Africa (PAACA), Ezenwa Nwagwu, made the appeal at a news conference in Abuja.
Explaining that the Dangote Refinery currently meets only about 40 percent of the country’s fuel demand, Nwagwu warned that implementing the new tariff would discourage imports and could trigger scarcity across the nation.
The Group however called on the government to suspend the proposed policy, noting that the decision would protect competition, prevent artificial shortages, and safeguard consumers from potential exploitation.
Nwagwu further urged the government to prioritize fair competition and consumer protection, stressing that monopolies only breed scarcity and deepen inequality.