An All Progressives Congress (APC) chieftain, Ayiri Emani, has appealed to the Federal Government not to approve the implementation of a 15 per cent ad-valorem import duty on petrol and diesel brought into Nigeria.
He made the appeal while speaking with journalists on Tuesday in Abuja, saying if approved the cost would eventually fall on ordinary Nigerians.
The new import duty according to the Federal Inland Revenue Service (FIRS)was to protect domestic refineries and promote stability in the downstream oil sector.
According to the FIRS Chairman, Zacch Adedeji, the core objective of the initiative was to operationalise crude transactions in local currency.
He said it was also to strengthen local refining capacity, and ensure a stable, affordable supply of petroleum products across Nigeria.
He maintained that the new tariff system would prevent duty-free fuel imports from undermining local refineries and promote a fair, competitive downstream sector.
President Bola Tinubu had since ordered the FIRS and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to immediately begin enforcing the tariff.
Mr Emani who is also the Chairman and Chief Executive Officer of A & E Group, a company with investments in Oil and Gas, construction and haulage, said ordinary Nigerians would ultimately be at the receiving end of the new tariff.
He stated, “Anybody advising President Tinubu to impose a 15 per cent tax on petroleum right now, is not doing him any good. This kind of policy will not hurt marketers; it will hurt ordinary Nigerians. Whatever tax you put on petroleum goes straight back to the people on the streets. Nigerians are already struggling, if I were to meet Mr President, I would tell him plainly, that this is not the time for such.’’
He explained that the cost of fuel affects every Nigerian, including those in riverine areas who depended on fishing and petty traders in underserved communities.
He added, “When you buy fuel, it determines whether you can even go out to fish. It is not that the fish are gone, it is that we can’t afford to reach them anymore. So, anybody bringing up this idea of 15 per cent tax on import duty on petrol and diesel brought into Nigeria should be advised against it. This is my government, and I know we need money, but there are other areas to look into, whatever you do in petroleum pricing always goes back to the masses. For me, that 15 per cent import duty should be kept aside until government provides more relief to Nigerians.’’
(NAN)