Nigeria, Nov. 3 -- Billionaire businessman Femi Otedola has hailed President Bola Tinubu's decision to introduce a 15% import tariff on petrol and diesel, describing it as a bold policy shift to protect Nigeria's emerging refining industry and secure long-term economic growth.



In a statement made available to The News Chronicle on Monday, Otedola said the move would prevent a repeat of the decades-long industrial decline triggered by cheap and substandard imports that crippled local textile, auto-assembly, and manufacturing sectors.



"With Nigeria now capable of meeting its fuel needs locally, it is essential to shield the billions of dollars already invested in refining and energy infrastructure," he said, noting that the tariff u...