The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that it will no longer pursue the planned 15 percent import duty on petroleum products.
George Ene-Ita, Director of the Authority’s Public Affairs Department, made the disclosure on Thursday, advising the public to avoid panic buying.
Earlier, on October 29, President Bola Tinubu had approved an import tariff on petrol and diesel, a measure intended to increase the landing cost of imported fuel.
The approval was communicated in a letter signed by his Private Secretary, Damilotun Aderemi, following a proposal by the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji.
The proposed policy sought to apply a 15 per cent duty on the cost, insurance, and freight (CIF) value of imported petrol and diesel to align import prices with domestic market realities. Implementation was scheduled for November 21, 2025.
The duty was designed to support local refineries, including the Dangote Refinery and modular plants, by making imported fuel more expensive. However, experts warned it could raise fuel prices for consumers, potentially adding up to ₦150 per litre or more, and contribute to inflation and higher transportation costs.
In its update, NMDPRA confirmed that the import duty would no longer be implemented. “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 further reassured Nigerians that the country has an adequate supply of petroleum products, within the acceptable national sufficiency threshold, especially during this peak demand period.
“There is a robust domestic supply of petroleum products, including AGO, PMS, and LPG, sourced from both local refineries and imports to ensure timely replenishment of stocks at storage depots and retail stations,” the statement added.
NMDPRA also warned against hoarding, panic buying, and unjustified price increases, pledging to closely monitor the supply situation and take regulatory measures to prevent disruptions.
“While appreciating the continued efforts of stakeholders in the midstream and downstream value chain in ensuring smooth and uninterrupted supply, the public is assured of NMDPRA’s commitment to energy security,” the statement concluded.