The Federal Government has suspended the planned implementation of a 15 percent import duty on petrol and diesel, reversing a policy that was expected to significantly raise the landing cost of imported petroleum products and affect fuel prices nationwide.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) made the announcement on Thursday through its Director of Public Affairs, George Ene-Ita, assuring Nigerians that the proposed tariff hike was no longer under consideration.
This clarification follows public anxiety and speculation after reports emerged that President Bola Tinubu had approved the tariff on October 29, 2025. The policy was to take effect on November 21, 2025, according to a letter signed by the President’s Private Secretary, Damilotun Aderemi, based on a proposal from the Federal Inland Revenue Service (FIRS) Chairman, Zacch Adedeji.
The proposed policy sought to apply a 15% duty on the cost, insurance, and freight (CIF) value of imported petrol and diesel a move designed to align importation costs with domestic realities and protect local refineries, including the Dangote Refinery and smaller modular refineries.
While the intention was to encourage local refining and reduce reliance on imports, analysts had warned that the duty would inevitably lead to higher pump prices, potentially increasing the cost of petrol by as much as ₦150 per litre. Many feared this would further exacerbate inflation and raise transportation and living costs across the country.
However, in a swift reversal, the NMDPRA confirmed that the Federal Government has shelved the plan, reassuring citizens that there was no imminent increase in fuel prices.
“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 Authority stated.
The regulatory body also warned against panic buying or hoarding, emphasizing that Nigeria currently maintains adequate stock levels of petrol, diesel, and cooking gas.
“There is a robust domestic supply of petroleum products sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations,” the NMDPRA said.
Ene-Ita reiterated that the Authority would continue to monitor the market closely and take necessary regulatory measures to ensure uninterrupted distribution of petroleum products nationwide, especially during periods of peak demand.
He further appreciated stakeholders across the midstream and downstream sectors for their cooperation and efforts toward maintaining stability in fuel supply.
“The public is hereby assured of NMDPRA’s commitment to guaranteeing energy security and preventing disruption of supply and distribution across the country,” the statement concluded.
The suspension of the import duty is expected to ease public concern and stabilize market sentiment, especially as the festive and high-demand season approaches.
