Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has praised the Federal Government’s decision to impose a 15% import tax on petrol and diesel, calling it a move that will grow the economy, promote local production, and create jobs for youth. ECCIMA President Sir Odeiga Jideonwo highlighted the negative impact of excessive importation on the naira and urged full support for policies protecting domestic industries.
Jideonwo pointed out that Nigeria’s reliance on refined petroleum imports dates back to the 1990s, contributing to economic decline and naira depreciation, worsened by poor refinery management and loose import licensing. He cited countries like the US and China as examples where strict import controls boost local industry and export capacity.
The Chamber applauded visionary investments like Dangote Petroleum Refinery, which is already meeting local demand and earning foreign exchange, with plans to nearly double its capacity to 1.4 million barrels per day. Jideonwo urged government support for indigenous refineries, removal of bureaucratic hurdles, and encouragement of competition to establish Nigeria as a global leader in refined petroleum products.
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