- FG Suspends 15 Percent Import Duty on Petrol, Diesel
- Ene-Ita clarified that the import duty is no longer planned
- NMDPRA also pledged to continue monitoring the supply situation closely
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed that the proposed 15 percent ad-valorem import duty on Premium Motor Spirit (PMS), commonly known as petrol, and Diesel will not be implemented.
Eko Hot Blog reports that the announcement was made on Thursday, November 13, via the authority’s verified X account.
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In a statement signed by George Ene-Ita, Director of Public Affairs at NMDPRA, the authority clarified that the import duty is no longer planned.
This follows earlier reports that President Bola Tinubu had approved the introduction of the levy on fuel imports. The NMDPRA reassured the public that there is sufficient domestic supply of petroleum products, including petrol, diesel and LPG, sourced from both local refineries and imports.
“The Authority wishes to advise against hoarding, panic buying or any unnecessary increase in petroleum product prices that do not reflect the market,” the statement read.
NMDPRA also pledged to continue monitoring the supply situation closely, taking regulatory measures where necessary to ensure uninterrupted distribution across the country, particularly during this peak demand period.
The authority expressed appreciation to stakeholders in the midstream and downstream value chain for their efforts in maintaining a smooth and steady supply of fuel. “The public is assured of NMDPRA’s commitment to guarantee energy security,” the statement concluded.
