The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that it will no longer proceed with the planned 15 per cent import duty on petroleum products.
The decision was disclosed in a statement issued on Thursday by the Director of Public Affairs, George Ene-Ita, who also urged the public to avoid panic buying.
On October 29, President Bola Tinubu had approved a proposal for the introduction of a 15 per cent import tariff on petrol and diesel, a policy expected to raise the landing cost of imported fuel. The approval, conveyed in a letter signed by the President’s Private Secretary, Damilotun Aderemi, followed a proposal from the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji.
The proposal sought to apply a 15 per cent duty on the cost, insurance, and freight (CIF) value of imported petrol and diesel to align import costs with domestic market realities. The policy was initially scheduled to take effect on November 21, 2025.
The tariff was designed to protect and encourage local refining, particularly by operators such as the Dangote Refinery and modular refineries by making imported fuel less competitive. However, experts had warned that the measure could push up pump prices by as much as ₦150 per litre, potentially worsening inflation and transportation costs.
In a new update, however, NMDPRA said the government had decided not to proceed with the policy.
“It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” the statement read in part.
The Authority further assured Nigerians of adequate petroleum product supply across the country, stating that current stock levels remain within the national sufficiency threshold despite increased seasonal demand.
“There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc.) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period,” it stated.
The NMDPRA also cautioned against hoarding, panic buying, and arbitrary price hikes, adding that it would continue to monitor the market to prevent disruptions in the supply and distribution of petroleum products.
“While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain, the Authority remains committed to guaranteeing energy security across the country,” the statement concluded.
