The Federal Government has suspended the planned implementation of a 15% ad-valorem import duty on Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel).
This was announced by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in a statement signed by its Director of Public Affairs, George Ene-Ita.
President Bola Tinubu had earlier approved the duty in October as part of a new tariff policy designed to support local refineries like Dangote Refinery and other modular plants while generating more government revenue.
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However, the move drew criticism from oil marketers and economists, who warned it could raise pump prices, worsen inflation, and strain importers at a time when domestic refining remains limited.
In response to growing concerns, the NMDPRA confirmed that “the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view.”
The Authority assured Nigerians that there is currently sufficient supply of petrol, diesel, and other petroleum products sourced from both local refineries and importers, maintaining a stable national reserve during this high-demand period.
It also cautioned against panic buying, hoarding, or artificial price increases, while reaffirming its commitment to ensure smooth distribution and energy stability across the country.
