The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the planned 15% ad-valorem import duty on imported Premium Motor Spirit (PMS) and Diesel will no longer be implemented.
In a statement shared on its official X account on Thursday, George Ene-Ita, Director of NMDPRA’s Public Affairs Department, confirmed: “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.”
Earlier, President Bola Tinubu had approved the introduction of the 15% import duty on petrol and diesel to regulate fuel imports into Nigeria. However, NMDPRA reassured the public that there is currently a sufficient supply of petroleum products in the country, meeting the national sufficiency threshold during this peak demand period.
The authority highlighted the robust domestic supply of petroleum products, including Automotive Gas Oil (AGO), PMS, and Liquefied Petroleum Gas (LPG), sourced from both local refineries and imports. This ensures that stocks are regularly replenished at storage depots and retail outlets nationwide.
NMDPRA also advised the public against hoarding, panic buying, or any non-market-driven price increases, emphasizing that the authority will continue to monitor supply closely. Regulatory measures will be enforced where necessary to prevent disruptions in fuel distribution across the country.
The statement concluded by acknowledging the efforts of all stakeholders in Nigeria’s midstream and downstream petroleum sector, reiterating NMDPRA’s commitment to guaranteeing energy security and a smooth, uninterrupted fuel supply for all Nigerians.
