The Lagos Chamber of Commerce and Industry (LCCI) has urged the federal government to postpone the planned 15% import tax on petrol and diesel, warning it could worsen inflation and disrupt businesses.
LCCI Director General, Dr. Chinyere Almona, said the government should first strengthen local refining capacity through a stable crude-for-Naira supply system to ensure adequate domestic production before enforcing the tax.
She explained that while discouraging fuel imports aligns with Nigeria’s goal of energy self-sufficiency and Naira stability, implementing the levy prematurely could cause fuel shortages, higher prices, and inflationary pressures across key sectors like transport, agriculture, and manufacturing.
Almona called for the full operationalisation of local refineries—both public and private—and urged the government to support modular refineries with reliable crude supply in Naira. This, she said, would enhance cost efficiency, create jobs, conserve foreign exchange, and boost government revenue.
She further advised that the rollout of the tax policy be transparent, measured, and supported by broader reforms that protect businesses and consumers from additional cost burdens.
“The chamber supports reforms that promote domestic refining and investment,” Almona said, “but success depends on practical implementation, clear communication, and an enabling environment that fosters confidence and industrial harmony.”
