The Nigeria Coalition Group (NCG) and the Yoruba Council Worldwide (YCW) have expressed their disapproval of the recent suspension of the 15% import duty on petroleum products.
They contend that this decision marks a regressive step and is ill-timed, as it contradicts the ongoing efforts to discourage the importation of petroleum products at this critical juncture.
The coalitions argue that this action does not align with the interests of Nigerians and jeopardizes local refining capabilities, ultimately undermining the nation’s economic objectives.
Reports from DAILY POST indicate that Prince Damilotun Aderemi, the Principal Private Secretary to President Bola Ahmed Tinubu, announced the duty suspension on Thursday, citing supposed panic buying of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil as the rationale behind this move.
Nonetheless, the NCG and YCW maintain that there is no substantiated evidence of panic buying or fuel shortages in any region of Nigeria.
They characterized the suspension as “a figment of imagination,” alleging it is driven by “powerful oil factions” intent on exacerbating the economic challenges faced by Nigerians.
In a collaborative statement, the NCG and YCW reiterated their call for the prompt reinstatement of the 15% import duty and advocated for a comprehensive ban on petroleum imports to ensure the protection of local refineries.
The coalition pointed to a recent meeting on November 12, 2025, with Lagos State Governor Babajide Sanwo-Olu and the Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, where they requested expedited efforts to safeguard indigenous refineries from coercion, under-supply, and economic sabotage.
Furthermore, the coalition has lodged petitions with the Economic and Financial Crimes Commission (EFCC), the Nigeria Police Force, and the Department of State Services (DSS) to reinforce their appeals.
Aare Oladotun Hassan, Esq., President and Convener of NCG, affirmed that “the suspension poses a significant risk to national economic stability” and called on Nigerians to unite in protecting local petroleum investments.
The NCG and YCW reiterated their commitment to ensuring that local refineries receive 100% crude oil allocations, while advocating for policies designed to bolster Nigeria’s energy independence and reduce dependence on imported petroleum products.
