A Step Towards Strengthening Local Content and the Patronage of Made-in-Nigeria Preamble

The Manufacturers Association of Nigeria (MAN) has commended the Federal Government for its recent approval of a 15% import tariff on petrol and diesel.

In a press release signed by Segun Ajayi-Kadir, Director-General Manufacturers Association of Nigeria, the association recognised gesture as a strategic step and patriotic policy that aligns with the Nigeria First agenda and MAN’s long-standing advocacy for local content development and patronage of Made-in-Nigeria.

It is heartening that this is coming less than one Month after the 53rd AGM of MAN with the theme: Nigeria First: Prioritizing Patronage of Made in Nigeria Products.

The association said the strategic policy has reassured domestic manufacturers that Government is attentive to the imperatives of growing indigenous manufacturing.

It exemplifies governments commitment to halting the perennial bleeding of our patrimony; asserting the sovereignty of the great country; guaranteeing energy sufficiency and security, and improving the overall wellbeing of Nigerians in this regards.

This is a sure step in the promotion of local value addition, strengthening domestic refining capacity, conserving foreign exchange, and advancing Nigeria’s long-term industrialisation objectives.

MAN’s Position:

1. Unfettered implementation of the domestic supply of crude and enshrined in the PIA. This will ensure the Naira for crude arrangement that will ensure effective and reliable supply of crude to the local refineries and reduce the pressure on our scarce foreign exhange.

It will also attract more investors, including the holders of the 30 refininery licenses to commit resources in the sector.

2. There is no better path to fixing Nigeria’s economy than protecting local industries, encouraging local patronage, fostering value addition, and promoting industrial development anchored on local content.

3. Nigeria is blessed with enormous oil resources. Unfortunately, scarce forex in billions of dollars is still being spent on importing refined petroleum.

Supporting local refining capacity through appropriate policy tools will conserve scarce foreign exchange, improve the stability of the Naira, and foster a more favourable macroeconomic environment for investment.

In view of above, MAN duly:

i. recognises the importance, significance, and necessity of the approval of the 15% import tariff on petroleum products — petrol and diesel.

ii. Acknowledges that the tariff is a rightful, deliberately designed policy instrument intended to protect and encourage domestic producers, curb dumping, and create a stable environment for local refiners to thrive.

iii. Notes that the tariff will accelerate operational readiness of domestic refineries, thereby reducing disruptions and stabilising energy supply to industries.

iv. Supports the 15% import tariff as an industrial policy instrument that will:

• Encourage the utilisation of local refining capacity and promote backward integration across the energy value chain.

• Conserve foreign exchange by reducing the nation’s dependence on imported refined petroleum products.

• Strengthen the manufacturing base through a more stable and predictable fuel supply.

• Generate employment opportunities, build technical expertise, and strengthen industrial linkages between refineries and manufacturers.

• Promote local content development and stimulate demand for Nigerian engineering, fabrication and logistics services.

v. MAN views this policy as a vital step in achieving energy independence and industrial sustainability, both of which are prerequisites for Nigeria’s economic transformation.

Call for Transparent and Balanced Implementation:

While supporting the 15% tariff imposition, MAN calls for transparent, efficient, and well-coordinated implementation to ensure its benefits reach both industry and consumers, safeguard competitiveness, and prevent unintended cost burdens.

Specifically, MAN calls for:

i. Transparent price monitoring: Government and regulators (PPPRA, NMDPRA, FCCPC) should closely monitor domestic pricing to prevent excessive mark-ups or anti-competitive behaviour.

ii. Stable transition period: During the initial months of implementation, the government should support local refiners to ensure adequate fuel availability and prevent supply shocks or speculative hoarding, particularly with the festive period approaching.

iii. Reinvestment of tariff revenue: Proceeds from the import duty should be reinvested into energy infrastructure, refinery efficiency, and power support schemes for industries, including credit facilities for industrial energy transition and renewable adoption.

iv. SMIs support measures: Provide targeted incentives or rebatesfor small and medium manufacturers reliant on diesel-powered generators during the transition period.

v. Support the development of more local refineries: The government should create an enabling environment and provide targeted incentives to attract investment in additional modular and conventional refineries, thereby strengthening domestic refining capacity, promoting competition, and ensuring long-term energy security.

vii. Ensure stakeholder harmony in the energy sector: The government should foster continuous engagement among refiners, marketers, regulators, and consumers to prevent disputes, ensure policy coherence, and sustain market stability.

viii. Move speedily to fully privatize the government owned refinery as it is evident that we may never succeed in restoring them to functionality under the current dispensation.

Selling off the refineries will stop the commitment of our scarce financial resources to an evidently irredeemable venture.

MAN acknowledges this major step in the implementation of Nigeria First policy of government. We are committed to supporting the Federal Government’s Nigeria First policy direction, especially on local content development and home grown industrialisation.

MAN believes that this tariff will accelerate the country’s journey toward energy sovereignty, industrial competitiveness, and sustainable economic growth — all anchored on the strength of Made-in-Nigeria.

•From Left: Lekan Oladipupo, HSE officer, Mr. Godfrey Ojo, Head Internal Audit, Adeyemi Adefulorin, Risk Assurance and Control, and Adetona Olutope, Regulatory manager, all of Rite Foods Limited.

Mr. Seleem Adegunwa, Managing Director/CEO of Rite Foods Limited, says that the company’s success is deeply rooted in integrity, accountability, and respect for both people and processes.

He states this during an event to mark the company’s Corporate Compliance & Ethics Week 2025, held in Lagos.

The week-long observance emphasizes the company’s belief that compliance is not just a rule to follow; it is a culture, a value, and a way of life embedded in every aspect of its operations.

“At Rite Foods, compliance is not just a requirement, it is a mindset. It defines who we are, how we operate, and the standards we uphold.

We hold ourselves accountable to the highest ethical standards, and this commitment shapes our relationships with employees, consumers, and partners alike,” he said.

Oluyemi Lawal-Daki, Head, Legal & Company Secretary, added that Compliance Week reflects the company’s proactive approach to ethics and governance.

“Our goal is not just to meet compliance obligations but to live them daily. Every employee understands that integrity and compliance form the backbone of sustainable business success,” she stated.

The Emir of Kano and former Governor of the Central Bank of Nigeria (CBN), Muhammadu Sanusi II, observed that Nigeria’s economic growth is not translating into improved living standards for its citizens.

Sanusi made this statement yesterday in Lagos ina keynote address during the 7th African International Conference on Islamic Finance (AICIF), themed “Africa Emerging: A Prosperous and Inclusive Outlook.”

Daily Trust reports that the conference was organised by Metropolitan Law and Metropolitan Skills Ltd in collaboration with the Securities and Exchange Commission (SEC).

Sanusi noted that while headline economic indicators such as Gross Domestic Product (GDP) growth and inflation figures may appear impressive, they often mask worsening living conditions for ordinary Nigerians.

“Economists tend to take a helicopter view of GDP and inflation numbers. These are beautiful statistics, but too often we lose sight of the small numbers that are absolutely crucial.

“A GDP growth rate of 5% or 6% may look good, but if it comes from one niche sector, the vast majority of the population could be getting poorer while GDP is growing.

Sitting in Lagos or Abuja and booking loans does not improve the lives of people in rural areas .

Inflation may decline, but the prices of basic food and medicines consumed by the poor may still be rising,” he said.

The emir called on Islamic financial institutions to drive inclusive growth by targeting the informal and rural sectors.

“Islamic financial institutions need to go to the bottom of the pyramid. You cannot talk about inclusivity if you are not where the people are.

Sitting in Lagos or Abuja and booking loans does not improve the lives of people in rural areas,” he said.