The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has announced the suspension of the 15 per cent ad-valorem import duty on imported Premium Motor Spirit (PMS) and diesel.
The announcement was contained in a statement signed by George Ene-Ita, Director of the Public Affairs Department at NMDPRA.
President Bola Ahmed Tinubu had earlier approved the import duty in October 2025, following a proposal by Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS). The measure was intended to align import costs with domestic realities and support local refining under the administration’s Renewed Hope Agenda.
However, the policy drew widespread criticism from stakeholders, who warned that it would raise fuel prices, worsen inflation, and increase import costs at a time when local refineries, including the Dangote Refinery and other modular plants, are yet to operate at full capacity.
Announcing the suspension, Ene-Ita assured Nigerians that there is an adequate supply of petrol, diesel, and liquefied petroleum gas (LPG) across the country. He cautioned against hoarding or panic buying, emphasising that the Authority continues to monitor the market to prevent supply disruptions.
“The implementation of the 15 per cent ad-valorem import duty on imported PMS and diesel is no longer in view,” the statement read.
“There is a robust domestic supply sourced from both local refineries and importation to ensure continuous availability during this peak demand period.”
The suspension is seen as a move to stabilise fuel prices and ease public concerns amid rising inflation and economic pressure on consumers.
