The Nigeria Employers’ Consultative Association has thrown its weight behind the Federal Government’s newly introduced 15 per cent import tariff on selected petroleum products, saying the move is a critical step toward revitalising the country’s refining capacity.

NECA’s Director-General, Adewale-Smatt Oyerinde, praised the decision, noting that Nigeria cannot continue relying heavily on imported fuel despite being a major crude oil producer. He argued that the tariff would encourage investors to channel resources into local refining and help reduce pressure on foreign exchange.

Oyerinde said the policy could boost confidence in the government’s commitment to growing domestic production, adding that Nigeria’s refineries have remained dormant partly because imported petrol and diesel continue to dominate the market.

He explained that if the tariff is implemented with proper oversight, it could support economic recovery, stabilise the naira, and push the country closer to energy self-sufficiency.

The NECA boss, however, stressed that the government must manage the transition carefully to prevent artificial scarcity or abnormal price hikes. He also called for urgent reforms to the naira-for-crude supply system so that local refineries can access feedstock without disruptions.

According to him, effective execution of the tariff policy would help revive the manufacturing sector, protect local jobs, and ensure more predictable fuel prices for Nigerians.