The Conference of Registered Voters in Nigeria, CRVN, has described President Bola Ahmed Tinubu’s approval of a 15 percent import duty on petrol and diesel as a win-win policy that will transform Nigeria’s petroleum sector, protect local investments, and advance the nation’s drive toward energy independence.

In a statement issued on Saturday, the group’s National President, Dr Ebikeme Edesiri, commended President Tinubu for his bold and strategic approach to economic reform, saying the policy demonstrates foresight and genuine commitment to building a resilient domestic economy.

Edesiri noted that the decision is not punitive but protective, designed to shield Nigeria’s refining industry from unfair competition, promote job security, and strengthen investor confidence.

“This policy is a win-win for government, industry, and the people. By curbing the influx of cheap imported fuel, we will be protecting the huge investments made in domestic refining. It is a practical step toward energy independence and national pride,” the statement reads.

The CRVN further explained that the policy would attract more investors to the energy sector, create employment opportunities, strengthen the naira, and boost government revenue for national development.

Dr Edesiri said the measure aligns with President Tinubu’s broader economic reform agenda, which includes the removal of fuel subsidies, the unification of the exchange rate, and the diversification of non-oil revenue sources, aimed at positioning Nigeria for sustainable growth.

“Each of these reforms reflects a consistent and visionary economic direction. President Tinubu is not playing politics with policy; he is making tough but necessary decisions that will secure Nigeria’s economic future,” Edesiri stated.

The group urged the federal government to ensure transparency in the management of revenue generated from the import duty and channel the funds toward critical infrastructure, including roads, power, and healthcare.

The CRVN also appealed to Nigerians to remain patient and supportive of the reforms, emphasizing that no nation achieves self-sufficiency overnight.

“What we are witnessing is a deliberate rebuilding of our economy from within. It requires the cooperation of every Nigerian,” the group admonished.

Edesiri concluded by describing the import duty as an act of national renewal, reaffirming CRVN’s confidence in President Tinubu’s leadership and his vision of economic independence.

“This 15 percent import duty will protect Nigerian refineries, stimulate growth, and secure jobs. We stand solidly behind the President and his reform agenda that brings development closer to the common man,” he added.

Ensure transparency in managing revenue from 15% import duty on petrol – CRVN to Tinubu