The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed that plans to introduce a 15 per cent import duty on petrol and diesel will no longer be implemented.
George Ene-Ita, Director of NMDPRA’s Public Affairs Department made the announcement on Thursday and also cautioned the public against panic buying.
Ene-Ita said the import tariff had been approved by President Bola Tinubu on 29 October, following a proposal by the Federal Inland Revenue Service (FIRS) aimed at aligning the cost of imported fuel with domestic market realities.
In its statement, NMDPRA said: "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."
The authority further assured Nigerians that the country has adequate fuel supplies to meet demand during the peak period.
NMDPRA urged stakeholders and the public to avoid hoarding and non-market reflective price increases, emphasising that it will continue to monitor supply and take regulatory measures to ensure uninterrupted distribution.
"There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period.
"The Authority wishes to use this opportunity to advise against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products.
"The Authority will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruption of supply and distribution of petroleum products across the country, especially during this peak demand period.
"While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring a smooth and uninterrupted supply and distribution, the public is hereby assured of NMDPRA’s commitment to guarantee energy security," the statement added.
The policy was intended to protect local refineries, including the Dangote Refinery and smaller modular plants, by making imported fuel more expensive.
Implementation had been scheduled for 21 November 2025, and experts warned it could have led to a rise in pump prices, with some estimates suggesting increases of up to N150 per litre.
Fears were also raised about potential inflationary pressures and higher transportation costs.
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