The Dangote Group has assured Nigerians that fuel prices will remain stable despite the Federal Government’s recent approval of a 15 per cent import tariff on petrol and diesel.
The Group’s Chief Corporate Communications Officer, Mr. Anthony Chiejina, gave the assurance on Sunday during an interview with Arise News, addressing public concerns that the new tariff could trigger a hike in pump prices.
Chiejina described such fears as “misplaced,” explaining that the tariff was introduced to discourage dumping and promote local refining, rather than to increase fuel costs.
“Yes, I’ve heard what people are saying, but I will tell you that is a misplaced fear — highly misplaced,” he said.
“This 15 per cent tariff is about preventing dumping; it’s not about high pricing. I can assure you that our price will remain stable between now and the end of the year.”
He also dismissed comments by Chief Ayiri Emami, a chieftain of the All Progressives Congress (APC) in Delta State, who criticised President Bola Tinubu’s approval of the import duty, warning that it would worsen hardship for ordinary Nigerians.
Chiejina maintained that the policy aligns with global trade standards and supports industrial protection, ensuring that local industries remain competitive.
“No nation advocates dumping. Dumping does not create employment or generate industrial wealth. Government also loses income and taxes that should have been earned. This policy is about protecting domestic industry and ensuring sustainable economic growth,” he said.
Meanwhile, the Presidency, in a statement on Friday, said President Tinubu approved the tariff as part of measures to stimulate local refining, strengthen energy security, and reduce dependence on fuel imports.
“For years, the nation has depended heavily on imported fuel despite being a leading crude oil producer, draining foreign exchange and exporting jobs that should have been created at home.
This new policy is designed to reverse that trend by encouraging local refining, boosting domestic capacity, and ensuring that Nigeria’s oil wealth translates directly into national prosperity,” the statement added.
