The Manufacturers Association of Nigeria (MAN) has advised the Federal Government to reinvest proceeds from the newly approved 15 per cent import tariff on petrol and diesel on energy infrastructure, refinery efficiency, and power support schemes for industries.
Director-General of MAN, Segun Ajayi-Kadir, who gave the urge in a statement, described the tariff imposition as a sure step toward strengthening local value addition, domestic refining capacity, conserving foreign exchange, and advancing Nigeria’s long-term industrialisation objectives.
The association said the policy was strategic and in alignment with its advocacy for the patronage of Made-in-Nigeria products and the ‘Nigeria First’ industrial agenda.
“The 15 per cent tariff is a deliberately designed policy instrument intended to protect and encourage domestic producers, curb dumping, and create a stable environment for local refiners to thrive,” Ajayi-Kadir stated.
According to him, the policy had reassured manufacturers that the government was attentive to the need to grow indigenous industries, adding that it would accelerate the operational readiness of local refineries and stabilise energy supply to industries.
“We call for transparent, efficient, and well-coordinated implementation to ensure that its benefits reach both industry and consumers, safeguard competitiveness, and prevent unintended cost burdens,” he added.
MAN also urged the government to ensure transparent price monitoring through regulators such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Competition and Consumer Protection Commission (FCCPC) to prevent excessive mark-ups and anti-competitive behaviour.
It also called for a stable transition period, especially during the festive season, to support local refiners and prevent fuel supply shocks or speculative hoarding.
Ajayi-Kadir further advised the government to reinvest tariff revenues in energy and refinery infrastructure, provide credit facilities for industrial energy transition, and create incentives for small and medium manufacturers that rely on diesel-powered generators.
He also urged the government to privatise non-functional refineries to stop the “commitment of scarce financial resources to an evidently irredeemable venture.”
“This tariff is a vital step in achieving energy independence and industrial sustainability, both of which are prerequisites for Nigeria’s economic transformation. We believe it will accelerate the country’s journey toward energy sovereignty, industrial competitiveness, and sustainable economic growth anchored on the strength of Made-in-Nigeria,” he added.
