The Abuja Chamber of Commerce and Industry has urged the 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, according to a statement by Emeka Obegolu, ACCI president, on Tuesday.

Mr Obegolu described the policy as strategic and transformative, but called for a phased execution to prevent unintended economic disruptions.
He said that the move would boost local refining, conserve foreign exchange, and promote industrial growth, but stated the need for a gradual rollout.

Mr Obegolu explained that a step-by-step implementation would allow the market to adjust, prevent supply shortages, and curb sharp fuel price increases that may affect transport and food costs.

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

The ACCI president stated that the chamber was prepared to collaborate with relevant ministries and agencies to develop a framework that balances industrial protection and consumer welfare. He recommended that part of the projected revenue from the tax be used to support transportation subsidies, small businesses, and the expansion of modular refineries.

Mr 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 15 per cent fuel import tax was approved by President Bola Tinubu on October 21, 2025, and announced on October 30, 2025.

(NAN)