The Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) has expressed full support for President Bola Ahmed Tinubu’s decision to impose a 15 percent import duty on petrol. The association stated that the policy would help strengthen Nigeria’s petroleum sector and boost government revenue. PETROAN noted that although the policy may come with challenges, it is a necessary step to create a more stable fuel market.

Speaking on the development, PETROAN leadership explained that the introduction of the duty will encourage investment in local refining and reduce Nigeria’s dependence on imported fuel. According to the group, relying on foreign products has weakened the nation’s energy system for many years, and this move could push the country toward true energy independence.

The association also highlighted that the policy would help the government generate funds needed for critical infrastructure and development. PETROAN believes the funds can support road construction, health services, education, and other national programs if managed properly. They called on the government to ensure transparency and accountability in using the expected revenue.

However, the group urged Nigerians to remain patient, acknowledging that there might be short-term pressure on fuel prices. PETROAN encouraged citizens to see the bigger picture, insisting that the long-term benefits will outweigh the current discomfort. They also appealed to the government to put measures in place to reduce the burden on the masses.

PETROAN concluded by calling for collaboration between marketers, regulators, and government authorities to make the policy successful. They expressed confidence that, with proper planning and support, Nigeria can build a more efficient energy sector and secure a stronger economic future.