The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the Federal Government is no longer considering the implementation of the planned 15 per cent import duty on petroleum products, including Premium Motor Spirit (PMS) and diesel.
The announcement was made in a statement on Thursday by the Director, Public Affairs Department, George Ene-Ita, who also urged Nigerians to avoid panic buying of petroleum products.
On October 29, 2025, President Bola Tinubu had approved a 15% import tariff on petrol and diesel following a proposal submitted by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji. The approval, conveyed through a letter signed by Damilotun Aderemi, the President’s Private Secretary, was expected to take effect from November 21, 2025.
The proposed tariff was designed to align import costs with domestic market realities and support local refineries, such as the Dangote Refinery and other modular plants, by making imported fuel more expensive. However, experts had warned that the move could increase pump prices by up to ₦150 per litre, potentially triggering higher inflation and transport costs.
In a new update, the NMDPRA confirmed that the policy is no longer in view, effectively suspending the planned duty implementation.
“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 said in part.
The regulator also assured Nigerians of sufficient petroleum supply, stating that the country maintains an adequate stock of products within the national sufficiency threshold, particularly during the current peak demand period.
“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,” the statement added.
The NMDPRA further cautioned against hoarding, panic buying, and artificial price hikes, stressing that such practices were unnecessary given the stable supply situation.
“The Authority will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruption of supply and distribution of petroleum products across the country,” Ene-Ita said.
The statement concluded by commending stakeholders in the downstream sector for their cooperation and reaffirming NMDPRA’s commitment to ensuring energy security across Nigeria.
