The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the proposed 15% import duty on petrol and diesel will no longer be implemented, assuring Nigerians of sufficient fuel supply.
According to a report from PUNCH, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that the planned implementation of the 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel) is no longer under consideration.
In a statement released on Thursday via its X handle, the Director of the Public Affairs Department, George Ene-Ita, clarified the government’s position. “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,” he said.
The announcement comes after reports that President Bola Tinubu had approved the introduction of the import duty on fuel products.
NMDPRA assured Nigerians of steady product availability, saying there is an adequate domestic supply sourced from both local refineries and imports. “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,” the statement read.
The agency warned against panic buying or hoarding and reiterated its commitment to maintaining smooth distribution nationwide, especially during the peak demand period, to guarantee the country’s energy security.