The Centre for the Promotion of Public Enterprise (CPPE) has endorsed the imposition of 15 per cent tariff on refined petroleum products by President Bola Ahmed Tinubu, which it described as a forward-looking policy that could transform Nigeria’s industrial landscape if reinforced with complementary reforms.
The CPPE gave its endorsement yesterday in a policy brief titled “Strategic Protectionism to Drive Nigeria’s Industrialisation,” in which it advocated strategic protectionism in the form of a calibrated policy approach that safeguards emerging industries while building competitiveness and self-sufficiency.
The Founder/Chief Executive Officer of CPPE, Dr. Muda Yusuf, said in the policy brief that the recent 15 per cent import duty on refined petroleum products represented a positive policy step that could catalyse industrial expansion, conserve foreign exchange, create jobs, and promote Nigeria’s economic resilience if it is complemented with broader industrial support measures.