🇳🇬NigeriaWest Africa
CPPE advocates for higher duties on imported petroleum products and targeted tariff adjustments
via Punch Nigeria2 min read
The Centre for the Promotion of Private Enterprise CPPE has called for specific tariff adjustments to support domestic refining, enhance transportation, and expand access to renewable energy. CPPE Chief Executive Officer, Muda Yusuf, made this statement in Lagos, responding to the 2026 Fiscal Policy Measures and Tariff Amendments. The new framework aims to shift towards domestic production and reduce import dependency, including revisions to import adjustment taxes across 192 tariff lines, selective import restrictions, reduced duties on inputs, excise changes, and green taxes on imported vehicles. Yusuf noted that while higher tariffs on imported finished goods like food, plastics, textiles, and metals with combined levies from 20 to 70 percent could boost local competitiveness, import-dependent businesses might face challenges due to increased costs and reduced profit margins. He expressed concern about the weak fiscal stance on petroleum product imports, advocating for stronger protective tariffs for locally refined products to ensure investment security, energy stability, and foreign exchange conservation. Yusuf also recommended reviewing the 40 percent tariff on used vehicles below 2000cc engine capacity, suggesting a reduction to a maximum of 25 percent to improve access and support job creation in sectors like e-hailing. For the automotive sector, he proposed tariffs not exceeding five percent for semi-knocked-down parts and zero duty for completely knocked-down compon
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