Business News of Monday, 17 November 2025

Source: www.dailypost.ng

Victory for Nigerians – Nwagwu hails FG for suspending 15% petrol import duty

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Public affairs analyst and Executive Director of the Peering Advocacy and Advancement Centre in Africa, PAACA, Ezenwa Nwagwu, has hailed the Federal Government for suspending its proposed 15 per cent import duty on petrol and diesel.

Nwagwu, in a statement issued on Monday, described the suspension as a major relief for Nigerians who would have been hit by a sharp increase in fuel prices had the policy taken effect.

“We commend the Federal Government for taking the right decision by suspending the tariff proposal,” he said, adding that the development proves that “when citizens and civic actors speak with evidence and clarity, government listens”.

According to him, the policy reversal highlights the value of participatory governance and the influence of evidence-based advocacy.

He noted that sustained pressure from stakeholders may have played a key role in prompting the government to step back from the tariff plan.

Nwagwu stressed that halting the proposed duty will help stabilise the petroleum market, curb inflationary pressure, and shield citizens from additional economic hardship.

“The suspension is not just a policy correction but a victory for citizens’ voices in the policy process,” he added.

DAILY POST reported last week, Nwagwu had urged the government to “protect the people, not the monopoly,” warning at a press conference in Abuja that the new tariff would distort competition, drive up fuel prices, and worsen the economic challenges already facing Nigerians.