The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the federal government is no longer proceeding with the proposed 15 percent import duty on petrol and diesel.
The development was disclosed on Thursday by George Ene-Ita, Director of the Public Affairs Department at NMDPRA, who advised the public to disregard panic buying and unnecessary speculation.
President Bola Tinubu had earlier approved the tariff on October 29, following a proposal from the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji. The approval communicated through a letter signed by the President’s Private Secretary, Damilotun Aderemi had recommended a 15 percent duty on the cost, insurance, and freight value of imported petrol and diesel, with implementation scheduled for November 21, 2025.
The policy aimed to align import costs with domestic market realities and encourage the growth of local refining, including operations at the Dangote Refinery and modular plants. However, experts warned that the tariff could significantly increase pump prices and worsen inflation, with projections suggesting possible rises of up to ₦150 per litre.
NMDPRA has now clarified that the tariff is no longer being considered.
“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.
The Authority assured Nigerians that petroleum product supply remains stable during the current peak demand period, adding that both locally refined products and imports are sufficient to maintain healthy national stock levels.
It warned against hoarding, panic buying, and arbitrary price hikes, saying it will continue to monitor the market and take regulatory action where necessary to prevent supply disruptions.
“While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring a smooth and uninterrupted supply and distribution, the public is hereby assured of NMDPRA’s commitment to guarantee energy security,” the statement added.
