CPPE identifies economic risks in suspension of 15% fuel import duty

Contributing sentiments towards policy:

55% : Nigeria's existing Import Adjustment Tax regime for sectors such as cement, sugar, agriculture, and automobiles, it said, provides a clear precedent for maintaining protection for local refining.
54% : Citing global examples, the CPPE argued that all major economies -- including the U.S., EU, China, and India -- protect strategic industries to remain competitive.
51% : To strike a balance between consumer needs and long-term national interests, the organisation recommended the Immediate reinstatement of the 15% import duty to restore competitive equilibrium, Targeted incentives for domestic refiners, including reduced port charges, tax credits, moderated FX access, improved logistics, and guaranteed crude supply and a stable, multi-year industrial protection framework to encourage long-term planning under the Nigeria First Policy.

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