A former Lagos State governorship candidate of the Peoples Democratic Party (PDP), Mr. Funso Doherty, has urged the National Assembly to investigate the recently approved 15 per cent import duty on Premium Motor Spirit (PMS), commonly known as petrol.
Doherty warned that enforcing the policy would worsen the economic hardship already faced by millions of Nigerians.
In an open letter to Senate President Godswill Akpabio, he described the duty as “fundamental and ill-timed,” questioning both the justification for the policy and the process that led to its approval.
Reports indicate that President Bola Tinubu approved the new tariff following a proposal from the Chairman of the Federal Inland Revenue Service, now renamed the Nigeria Revenue Service. The FIRS chairman reportedly defended the measure as a way to help local fuel producers recover costs, not to generate revenue for the government.
Doherty disagreed with this reasoning, saying major domestic producers like the Dangote Refinery already enjoy significant fiscal benefits such as tax holidays and waivers due to their operation within export processing zones. He argued that imposing additional import tariffs would place an unfair financial burden on ordinary Nigerians.
> “I hereby call for the National Assembly to investigate the circumstances and process surrounding the introduction of the import duty,” Doherty wrote. “In doing so, you may wish to invite the NMDPRA, the Federal Ministry of Trade and Investment, and key industry operators to determine whether imposing this additional burden on Nigerians at this time is justified. The proceedings should be transparent and open to the press to keep the public informed.”
He warned that the duty could increase the pump price of petrol by about ₦100 per litre, triggering fresh inflation and worsening financial strain for many households.
> “Pricing policies relating to petrol have far-reaching implications for Nigerians,” he said. “Most citizens are already severely stretched financially, and any additional cost at this time will be devastating.”
The PDP chieftain argued that the new tariff comes at a time when Nigerians can least afford it, noting that the removal of fuel and foreign exchange subsidies has already caused a fivefold rise in petrol prices within two years.
He also questioned the involvement of the FIRS in proposing the policy, insisting that trade and excise matters fall under the jurisdiction of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Ministry of Trade and Investment.
> “It is not clear why this proposal originated from the FIRS,” he said. “The development of customs and excise policies should rightly fall under the NMDPRA and the Ministry of Trade and Investment.”
Doherty criticised the tariff structure for maintaining import parity pricing while allowing local producers to recover costs even when international prices decline. He said the policy exposes consumers to all market risks while shielding producers from competition.
“This structure enables producers to have it both ways — passing risks to consumers while insulating themselves from market realities,” he stated.
Doherty, an investment professional and civic advocate who contested the 2023 Lagos governorship election, urged lawmakers to use their oversight powers to ensure transparency and fairness in policy implementation.
He concluded by stressing that decisions on fuel pricing must balance government revenue goals with citizens’ welfare.
“Policies of this magnitude must be fair, transparent, and rooted in empathy for the people whose lives they will most affect,” he said.
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