LUPAN CRITICIZES MULTIPLE IMPORT LEVIES, PETITIONS OSINBANJO

LUPAN CRITICIZES MULTIPLE IMPORT LEVIES, PETITIONS OSINBANJO

Originally published on July 25th, 2018

On Sunday, the Lubricant Producers Association of Nigeria (LUPAN), petitioned the Vice President and Head, Economic Term, Prof. Yemi Osinbajo, over the demand for Administrative Charge of 10 Kobo per litre of base oil imported into the country.

The Executive Secretary, Emeka Obidike, on behalf of the association signed the petition where they criticized the levies and charges as a form of hostility to their business operations and also explained that the charge, being demanded by the Petroleum Products Pricing Regulatory Agency (PPPRA), is in addition to other arbitrary charges, dues, levies, fees and taxes by various unapproved agencies.

They condemned these illegal acts being carried out by some unauthorised agencies, despite being shown a genuine licence from the Department of Petroleum Resources (DPR). The Secretary described base oil as 100 per cent import-dependent, which risk is solely borne by the importer and expressed their grievances about government’s lack of intervention not just in subsidy but also in formulating favourable policies in the lubricant subsector.

He warned that the expenses and other ancillary costs connected to receiving lubricant may increase due to the multiple import levies, and this will significantly inflate the market cost of locally made lubricants, making it less attractive than its imported substandard counterpart.

 

Source: THE GUARDIAN