Veteran Nollywood actor and politician, Kenneth Okonkwo, has faulted President Bola Ahmed Tinubu’s approval of a 15% import duty on petroleum products, describing the move as “ill-advised and insensitive” to the suffering of Nigerians.
According to reports, President Tinubu gave his approval in a letter dated October 21, 2025, after the Federal Inland Revenue Service (FIRS) requested the tariff to align import costs with local realities. The directive was conveyed by the President’s Private Secretary, Damilotun Aderemi, to both the FIRS and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
However, reacting via his 𝕏 (Twitter) handle on Thursday, Okonkwo condemned the policy, arguing that it would kill competition, discourage importation, and worsen the cost of living for Nigerians already burdened by high fuel prices.
“The Tinubu government has become destructive to the welfare of the people with this 15% duty on imported petroleum products. The only competitor to locally refined products is the imported one,” he said.
“Any idea to discourage imported petroleum now that local prices remain high is ill-advised. Nigerians have suffered enough and do not deserve more hardship.”
Critics have expressed concern that the move could lead to further increases in pump prices and intensify inflation, while supporters argue it would boost local refining capacity and strengthen the naira in the long term.
