FG Suspends Planned 15% Import Duty on Petrol, Diesel

The Federal Government has suspended the planned implementation of a 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel).

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed the development in a statement posted on its official X handle on Thursday.

According to the statement signed by George Ene-Ita, Director of the Public Affairs Department, the proposal to impose the duty “is no longer in view.”

“It should also be noted that the implementation of the 15 per cent ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” Ene-Ita said.

The announcement comes weeks after reports that President Bola Ahmed Tinubu had approved the introduction of the import duty as part of efforts to generate revenue and align with fiscal reforms in the petroleum sector.

NMDPRA, however, assured Nigerians that the decision will not affect the current stability in the fuel supply chain, stating that there is “adequate supply of petroleum products across the country within the acceptable national sufficiency threshold.”

“There is a robust domestic supply of petroleum products—AGO, PMS, LPG—sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period,” the statement noted.

The agency cautioned marketers against hoarding or arbitrary price increases, warning that any attempt to create artificial scarcity would attract regulatory sanctions.

“The Authority will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent any disruption in the distribution of petroleum products across the country, especially during this peak demand period,” it said.

While commending stakeholders for their continued cooperation, the NMDPRA reaffirmed its commitment to ensuring energy security and market stability.