The Federal Government on Thursday announced the suspension of the proposed 15 per cent import duty on petrol and diesel, confirming that the policy's implementation is "no longer in view."
In a statement, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) assured Nigerians that the country has sufficient petroleum products sourced from both domestic refineries and imports, and urged citizens to avoid panic buying.
The planned tariff—approved by President Bola Tinubu in late October 2025—had been conceived as a step toward reducing Nigeria's reliance on imported fuel and supporting emerging local refineries, particularly the Dangote Refinery. Government officials had argued that the duty would protect domestic refining capacity, discourage excessive importation, ease pressure on the naira, and boost value addition in the downstream sector.
However, critics warned that the policy would raise landing costs and inevitably increase pump prices, worsening inflation and adding to household hardship. Labour unions, business groups, and consumer advocates expressed widespread concern over the potential economic impact.
In the statement signed by George Ene-Ita, Director of Public Affairs at NMDPRA, the Authority emphasized that the duty's implementation had been suspended and should not trigger any form of fuel hoarding or artificial price hikes.
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"The Authority advises against any hoarding, panic buying, or non-market reflective escalation of prices. The implementation of the 15 per cent ad-valorem import duty on PMS and diesel is no longer in view," the statement read.
NMDPRA added that Nigeria currently maintains adequate fuel reserves within the national sufficiency threshold, even during the peak demand season. It noted that PMS, diesel, LPG, and other key products continue to be supplied from both local refineries and imports to ensure steady replenishment at depots and retail stations.
The Authority reaffirmed its commitment to closely monitor the supply chain and enforce regulatory measures to prevent disruptions in distribution across the country.
Appreciating stakeholders in the midstream and downstream sector, NMDPRA reiterated its commitment to safeguarding energy security nationwide.
