Nigeria, Oct. 30 -- President Bola Tinubu has approved a 15 per cent import duty on petrol and diesel, a controversial move the government says is aimed at supporting local refining and boosting energy security, but which critics say could lead to an increase in fuel price.

The president's approval was contained in a letter with reference no: PRES8197/HAGF/100/71/FIRS/40/88-2/NMDPRA/2, dated 21 October. The letter was addressed to the Attorney General of the Federation and Minister of Justice, Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The tariff allows for a 30-day window and adds to the controversy around petrol import and production in Africa's largest oil ...