Oil marketers have described the recent introduction of 15% import duty on petrol and diesel by the Federal Government as very challenging and would lead to an increase in the price of petroleum products.
They said the government is making it difficult for players who are importing petroleum products to make up for the shortfall from the local refiners, who they said are not producing enough to meet local demand.
President Bola Ahmed Tinubu had, some days ago, approved a 15% ad-valorem import duty on diesel and petrol.