PENGASSAN President Backs Suspension of 15% Petrol Import Duty

The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, has applauded the federal government for suspending the implementation of the 15 percent import duty earlier slated for petrol and diesel.

The suspension was confirmed by regulatory authorities after weeks of public concern that the duty could trigger an increase in pump prices and worsen transportation and living costs.

The tariff had been introduced as part of broader fiscal measures aimed at encouraging local refining and reducing import dependence, but its timing immediately drew criticism from labour unions and economic analysts.

Reacting to the development, Osifo described the government’s decision as a “welcome relief” for Nigerians who are already grappling with rising costs. He noted that the move demonstrates responsiveness to public concerns and underscores the need for policies that prioritise citizens’ welfare, especially in sensitive sectors like energy.

He also commended the federal government for listening to organised labour and industry stakeholders, saying the suspension would stabilise the market while preventing sudden disruptions in the downstream petroleum supply chain.

According to PENGASSAN, any policy likely to influence pump prices must be thoroughly evaluated to avoid unintended economic shocks, particularly at a time when households and workers are contending with high inflation.

With the suspension now in effect, government officials say further consultations will continue with relevant stakeholders before any future review of fuel-related tariffs.

The development is expected to keep fuel prices steady in the short term while easing pressure on consumers nationwide.