The President of the Trade Union Congress, Festus Osifo, has warned that the Federal Government’s proposed 15 per cent import duty on Premium Motor Spirit, otherwise known as petrol, could further worsen the living conditions of Nigerians amid rising fuel prices and inflation.
Speaking on Channels Television’s ‘TUC Half Hour’ monitored by our correspondent, Osifo disclosed that the union is currently studying the policy and consulting with stakeholders to understand its full implications.
The union leader raised concerns that while the government argues that the duty would protect local refining capacity, its immediate impact could be a sharp increase in pump prices since Nigeria still imports a large volume of its PMS.
“The first impression was a no, no, no. Why are we imposing tax when our refineries are not producing?” he asked.
“The Dangote Refinery operates within a free trade zone, which means it already enjoys import duty waivers. So, if this 15 per cent duty applies to importers, they will simply transfer the cost to consumers; that’s the reality.”
