The Lagos Chamber of Commerce and Industry (LCCI) has called on the federal government to postpone the implementation of the 15 per cent import tax on petrol and diesel.
The LCCI also urged the government to seek a balanced and measured strategic rollout that could ensure a sustainable economic impact.
The Director General of LCCI, Chinyere Almona, stated yesterday that, “we recommend that the implementation of this tax policy be postponed and that, during the transition period, the government demonstrate its commitment through action by empowering local refiners through an efficient crude-for-Naira supply chain that ensures sufficient crude.
“With this, refiners can boost their refining capacity with a stable supply of crude and adequately meet domestic demand at competitive rates.
“At this point, the imposition of an import tax will directly discourage importation and boost demand for the locally refined products.
“With zero importation achieved, the benefits will be seen in the creation of jobs, the conservation of FOREX, a strengthened exchange rate, and increased revenue for the government.”
