The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced on Thursday that it “is no longer considering implementing the planned 15 per cent duty on imported petroleum products.”
The development was communicated in a statement by the Director of the Public Affairs Department, George Ene-Ita, who also warned the public to “shun panic buying.”
The planned policy stemmed from an import tariff on petrol and diesel approved by President Bola Tinubu on October 29, which was expected to raise the landing cost of imported fuel.
The President’s approval was conveyed in a letter signed by his Private Secretary, Damilotun Aderemi, following a proposal submitted by the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji.
The proposal sought the “application of a 15 per cent duty on the cost, insurance, and freight value of imported petrol and diesel to align import costs with domestic market realities.” Implementation was scheduled to take effect on November 21, 2025.
The policy was intended to “protect and promote local refineries like the Dangote Refinery and modular plants by making imported fuel more expensive.”
However, experts had argued that the move could translate into higher pump prices for consumers, with some estimating an increase of “up to ₦150 per litre or more,” potentially leading to “higher inflation and transportation prices for consumers.”
In its update, NMDPRA confirmed that the government would not proceed with the duty, stating in part: “It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in View.”
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