FG suspends 15% import duty on petrol, diesel

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the planned 15% import duty on petrol (PMS) and diesel will no longer be implemented.

In a statement on Thursday, the NMDPRA’s Director of Public Affairs, George Ene-Ita, said:

“The 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view.”

Earlier, President Bola Tinubu had approved the introduction of this duty on fuel imports.

However, the NMDPRA assured Nigerians that there is enough fuel supply across the country. The agency said both locally refined and imported products are available to keep fuel stations stocked and prevent shortages.

The Authority also warned against panic buying, hoarding, or unnecessary price hikes. It promised to continue monitoring the market to maintain stable distribution.

NMDPRA thanked all stakeholders in the petroleum sector for their cooperation and restated its commitment to ensuring a steady fuel supply and protecting Nigeria’s energy security.