ABUJA – A prominent support group for President Bola Tinubu has thrown its weight behind a new suite of import duty reductions, hailing the move as a superior alternative to the return of costly fuel subsidies. The Tinubu Media Support Group (TMSG) says the federal government’s decision to slash tariffs on over 100 items is a “strategic” masterstroke designed to cushion Nigerians from the global economic shocks triggered by the ongoing Persian Gulf crisis.
“Better than subsidies”
The intervention comes as high global oil prices—a byproduct of Middle East tensions—have ramped up pressure on the Nigerian economy. While some labor unions and analysts had lobbied for a return to fuel subsidies or direct wage hikes, the TMSG argues that the government’s new fiscal policy is a more sustainable way to lower the cost of living. In a statement, the group’s Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, insisted that the move avoids “knee-jerk initiatives” that could jeopardize the administration’s flagship economic reforms.”It is clear that the authorities are opting for a more strategic approach rather than initiatives that will roll back the gains of ongoing reforms,” the group stated.
Relief at the ports
The TMSG highlighted several key areas where the policy, which officially commenced on April 1, 2026, will provide immediate breathing room for consumers:
Transport: A major reduction in duties for passenger vehicles and SUVs, dropping from 70% to 40%.
Food Security: Significant cuts to tariffs on bulk rice (now 47.5%) and crude palm oil (28.75%).
Education and Housing: Lowered costs for notebooks, envelopes, and ceramic tiles to assist students and the construction sector.
A vote of confidence
While acknowledging concerns that lower tariffs might increase competition for local manufacturers, the group expressed confidence that the move would actually drive domestic efficiency. They echoed the stance of the former Minister of Finance, Wale Edun, suggesting that lowering the cost of industrial inputs is the most effective way to “buffer against global shocks” without eroding the gains made from the harmonisation of the foreign exchange window.
The group concluded by assuring the public that these measures are a “deliberate” attempt to protect the welfare of all Nigerians, regardless of their political or ethnic affiliations.
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