The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has suspended the planned implementation of the 15 percent ad-valorem import duty on Premium Motor Spirit (PMS) and diesel.
The decision was announced in a statement issued on Thursday by George Ene-Ita, Director of the Public Affairs Department at NMDPRA.
President Bola Ahmed Tinubu had earlier approved the 15 percent import tariff in October 2025, following a proposal from the Federal Inland Revenue Service (FIRS). The measure was intended to align import costs with domestic market realities and promote investment in local refining. However, it triggered widespread concern among stakeholders, who warned it could drive up pump prices, worsen inflation, and increase the cost of petroleum imports.
According to Ene-Ita, the duty implementation “is no longer in view,” as the Authority focuses on maintaining market stability and ensuring uninterrupted fuel supply nationwide.
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He assured that Nigeria currently has sufficient petroleum product reserves to meet national demand during this peak period. “There is robust domestic supply of PMS, diesel, and LPG from both local refineries and imports to sustain adequate stock levels,” the statement said.
The NMDPRA also cautioned marketers against hoarding or arbitrary price hikes, stressing that the agency would continue monitoring supply and take regulatory actions when necessary to prevent disruptions in fuel distribution across the country.
