ACCI Urges Gradual Implementation Of Fuel Import Tax

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The Abuja Chamber of Commerce and Industry (ACCI) has urged gradual implementation of the Federal Government’s 15 per cent fuel import tax to ensure economic stability and consumer protection.

The ACCI commended the government’s commitment to strengthening domestic refining capacity through the new policy but warned against sudden enforcement that could trigger inflation and weaken business confidence.

Chief Emeka Obegolu, President of the ACCI, described the policy as strategic and transformative but called for phased execution to prevent unintended economic disruptions.

He said that 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 increase that may affect transport and food costs.

He noted that success of the new tariff would depend on transparency, effective coordination and stakeholders’ engagement, by involving refineries, marketers, transport unions and consumer groups.

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 said if properly managed, the 15 per cent fuel import tax could become a cornerstone for Nigeria’s energy independence and sustainable economic growth.

He added that the policy should represent a carefully managed transition that safeguards livelihoods while promoting local production.

The News Agency of Nigeria (NAN) reports that the 15 per cent fuel import tax was approved by President Bola Tinubu on Oct. 21, 2025, and was announced on Oct. 30, 2025. (NAN)(www.nannews.ng)

Edited by Vivian Ihechu

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ACCI urges gradual implementation of fuel import tax