The Federal Government has reaffirmed its commitment to protecting the interests of Nigerians by approving a 15% tariff adjustment aimed at curbing monopolistic practices and ensuring fair competition in the marketplace. The decision, announced earlier this week, has been widely welcomed as a bold step toward safeguarding consumers and empowering local businesses.
According to government officials, the tariff measure was carefully designed to strike a balance between encouraging investment and preventing undue dominance by a few players in critical sectors. By prioritizing the welfare of citizens, the administration has demonstrated its resolve to foster a more inclusive economy where opportunities are accessible to all.
Industry stakeholders have praised the move, noting that it will help level the playing field for small and medium-sized enterprises (SMEs) that often struggle to compete against entrenched monopolies. The tariff is expected to stimulate innovation, improve service delivery, and create more choices for consumers, thereby strengthening Nigeria’s economic resilience.
Civil society groups and consumer advocates have also expressed gratitude to President Bola Ahmed Tinubu for listening to the voices of ordinary Nigerians. They emphasized that the policy reflects a people-first approach, ensuring that economic reforms do not disproportionately burden citizens but instead empower them to thrive in a competitive environment.
The government has assured that mechanisms will be put in place to monitor the implementation of the tariff and prevent unintended consequences. Officials highlighted that transparency and accountability will remain central to the process, with regular reviews to assess its impact on both businesses and consumers.
This landmark decision underscores the administration’s broader vision of building a sustainable economy that prioritizes fairness, inclusivity, and national interest. By choosing Nigerians over monopoly, the government has sent a clear message that the welfare of its people remains the cornerstone of its economic agenda.