The Tinubu Media Support Group (TMSG) has commended the Federal Government’s swift decision to reduce import tariffs, describing it as a strategic move to cushion the rising cost of living on Nigerians following the ongoing Persian Gulf crisis.
In a statement jointly signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the group said the newly introduced fiscal policy measures were a better alternative to reintroducing fuel subsidy, which some stakeholders had proposed in response to rising crude oil prices and inflationary pressures.
According to TMSG, the government’s response demonstrates a more sustainable and strategic approach to managing economic challenges rather than adopting short-term solutions that could undermine ongoing reforms.
“At the outset of the tension in the Middle East that led to a spike in the price of crude oil and its attendant effects on the cost of living, many analysts had called on the President Bola Tinubu administration to consider reintroducing fuel subsidy,” the statement said.
It noted that while some groups, including the Nigeria Labour Congress (NLC), had advocated for the diversion of expected oil windfalls into wage awards and salary increases for civil servants, the Federal Government instead opted for targeted fiscal reforms.
The group explained that the new fiscal policy measures, which took effect from April 1, 2026, include substantial tariff reductions on 127 items, the introduction of an Import Adjustment Tax (IAT) on 192 tariff lines, and an import prohibition list covering 17 items from non-ECOWAS countries.
TMSG highlighted that import duties on fully built passenger vehicles, four-wheel drive cars, and station wagons were reduced from 70 per cent to 40 per cent.
It also noted significant reductions in food import duties, with bulk rice now attracting 47.5 per cent duty instead of 70 per cent, while broken rice tariffs were reduced to 30 per cent.
According to the group, crude palm oil imports are now fixed at 28.75 per cent, while raw sugar ranges between 55 and 57.5 per cent, and refined salt for human consumption now attracts a 55 per cent tariff.
The statement further revealed that industrial and household items such as envelopes now attract 40 per cent duty, down from 50 per cent, while notebooks are set at 30 per cent.
Ceramic tiles were also adjusted, with unglazed tiles at 35 per cent and glazed tiles at 46.25 per cent.
TMSG acknowledged concerns that lower tariffs could affect local production but argued that increased competition from imported goods could improve efficiency among domestic producers and ultimately benefit consumers through better pricing and improved quality.
Read Also:Mixed reactions trail Tinubu’s fresh $516m loan request
The group also aligned with the position of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, that lowering tariffs on key industrial inputs would help boost local production and shield the economy from global shocks such as the ongoing Middle East crisis.
“It is safe to say that these are deliberate measures aimed at protecting the economy and the citizenry, and not necessarily to hurt domestic businesses,” TMSG stated.
The group assured Nigerians of the Federal Government’s commitment to improving welfare and living standards for all citizens, regardless of ethnicity, religion, or political affiliation.
