President Bola Tinubu has approved a 15 percent ad-valorem import duty on diesel and premium motor spirit (PMS), also known as petrol.
In a letter dated October 21, 2025, signed by Damilotun Aderemi, the private secretary to the president, conveyed Tinubu’s approval to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Tinubu granted the approval following a request by FIRS to apply the 15 percent duty on the cost, insurance, and freight (CIF) to “align import costs to domestic realities.”
The letter noted that the implementation of the import duty will increase the price of a litre of petrol by an estimated N99.72 kobo.