Former Lagos governorship candidate, Funso Doherty, has called on the National Assembly to launch an inquiry into the newly approved 15 percent import duty on petrol, warning that the policy could worsen the cost-of-living crisis in Nigeria.
In a letter to Senate President Godswill Akpabio, the Peoples Democratic Party (PDP) chieftain described the duty as “ill-timed and unnecessary,” urging lawmakers to scrutinize the process that led to its approval and the agencies involved.
President Bola Tinubu reportedly approved the tariff after receiving recommendations from the Federal Inland Revenue Service (FIRS), now renamed the Nigeria Revenue Service. The agency defended the new levy as a move to help local fuel producers recover costs.
Doherty, however, argued that this reasoning was flawed, noting that refineries such as Dangote’s already enjoy substantial tax waivers and incentives under Nigeria’s export processing zone policies. According to him, adding a new import charge would simply pass the financial burden to citizens already struggling with rising prices.
He urged the Senate to summon key stakeholders—including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Ministry of Trade and Investment—to justify the duty’s introduction. Doherty emphasized that the hearings should be transparent and open to the public to ensure accountability.
The PDP stalwart estimated that the import duty could push petrol prices up by as much as ₦100 per litre, further fueling inflation and squeezing household budgets. He criticized the continued reliance on import parity pricing, saying it exposes consumers to international market risks while insulating producers from competition.
“It is unclear why a tax-focused agency like the FIRS is driving trade-related policy,” he said, arguing that such mandates rightly belong to regulatory and trade ministries.
Doherty, who contested the 2023 Lagos governorship election, said the policy represents a troubling trend of fiscal decisions made without adequate consideration of their social impact. He called on lawmakers to use their oversight powers to ensure that fuel pricing and tax measures are transparent, fair, and people-centered.
“Government policies on petrol must strike a balance between economic recovery and the welfare of ordinary Nigerians,” he concluded.
