Northern Industrialists Support 15% Fuel Import Tariff
Industrialists in Northern Nigeria have expressed approval of the Federal Government's decision to impose a 15% import duty on petroleum products. They view this policy as a strategic effort to boost local production, increase value addition in the oil and gas sector, and foster a more competitive market for Nigerian manufacturers.
Statements from Industry Leaders
Muhammad Nura Madugu, Chairman of the Sharada-Challawa branch of the Manufacturers Association of Nigeria (MAN) in Kano, made these remarks during a visit to the Dangote Group’s regional office in Abuja. He emphasized local manufacturers’ commitment to government initiatives that encourage industrial growth, support local content, and enhance the global competitiveness of Nigerian companies.
Balanced View on Government Policies
Madugu explained that his members carefully evaluate government policies, considering both the benefits and challenges for their industries and the broader Nigerian economy.
Opportunities in Crude Oil Refining
He highlighted the many business prospects linked to crude oil refining derivatives produced by the Dangote Refinery, noting the enthusiasm among members to capitalize on these opportunities.
“Local manufacturers will continue to align with progressive government policies designed to stimulate industrial development, promote local content, and position Nigerian companies to compete effectively on the global stage.”
“There are numerous business opportunities arising from the various derivatives of crude oil refining by the company, and my members are eager to leverage the vast potential created by the Dangote Refinery.”
Author's summary: Northern Nigerian industrialists endorse the new 15% fuel import tariff, viewing it as a key policy to enhance local production, support manufacturers, and drive economic growth.