FG Approves 15% Import Duty on Petrol, Diesel
President Bola Ahmed Tinubu has approved a 15 percent import duty on Premium Motor Spirit (PMS), popularly known as petrol, and Automotive Gas Oil (AGO), also called diesel, in a new directive expected to impact retail fuel prices nationwide.
The approval, conveyed in a letter dated October 21, 2025, and signed by the President’s private secretary, Damilotun Aderemi, was addressed to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
TheCable reports that FIRS had requested the adjustment to align import cost structures with current economic realities. With the President’s endorsement, the 15 percent duty will apply to the cost, insurance and freight (CIF) value of imported petroleum products.
Economic analysts project that the implementation of the new duty could lead to a pump price increase of about ₦99 per litre, stirring fresh concerns over inflation and rising living costs already confronting Nigerians.
The development has triggered criticism from opposition quarters. A chieftain of the Peoples Democratic Party (PDP), Chief Eze Chukwuemeka Eze, faulted the decision, accusing the administration of introducing policies that further burden citizens.
He urged the Federal Government to prioritise measures that ease economic hardship rather than impose additional costs on essential commodities such as fuel.
As of press time, FIRS and NMDPRA officials were said to be working out modalities for the enforcement of the directive.