Dangote Industries Limited has thrown its full weight behind the Nigerian government’s newly introduced 15 percent tariff on imported petroleum products.
In a statement issued by Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Industries Limited, the company described the measure as a “patriotic and necessary step” toward protecting Nigeria’s emerging refining industry and strengthening the national economy.
The conglomerate commended President Bola Ahmed Tinubu for what it called a bold and visionary policy aimed at transforming Nigeria’s downstream oil and gas sector.
“It would be unpatriotic for anyone to criticise the recently announced tariff, which is a good start,” Chiejina said.
“The tariff is designed to protect domestic industries from unfair competition and safeguard local production.”
Tariff as a Shield Against Dumping
Dangote Industries maintained that the new tariff will help curb the dumping of cheap, often substandard petroleum products into the Nigerian market — a practice that has historically undermined local manufacturers and stifled investment in the refining sector.
“Dumping engenders poverty, discourages industrialisation, creates unemployment, and leads to revenue loss for the government,” Chiejina warned.
“Across the world, nations protect their local manufacturers and industries from the threat of dumping.
"Dumping destroyed our textile industry, which was once a major employer of labour and creator of wealth.”
He urged the government to strengthen monitoring and enforcement mechanisms to prevent the influx of low-quality petroleum products from rent-seeking importers who prioritise profiteering over national interest.
Policy Will Strengthen Energy Security and the Naira
Chiejina also linked the tariff policy to broader economic stability, arguing that local production of petroleum products reduces pressure on Nigeria’s foreign exchange reserves and supports the value of the naira.
“We have reduced foreign exchange outflows and increased inflows, which in turn supports the naira and strengthens the economy,” he said.
“This significant production capacity not only guarantees local supply but also enhances energy security and reduces dependence on imports.”
Dangote Petroleum Refinery currently produces over 45 million litres of petrol and 25 million litres of diesel daily, exceeding Nigeria’s total domestic demand, according to the statement.
