National News
BREAKING: Tinubu approves 15% import duty on Petrol, Diesel
President Bola Tinubu has given the green light for a 15 percent ad-valorem import duty on diesel and premium motor spirit (PMS), commonly called petrol.
The approval, communicated in a letter dated October 21, 2025, by the President’s private secretary, Damilotun Aderemi, was sent to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The move follows a request by FIRS to impose a 15 percent duty on the cost, insurance, and freight (CIF) value of petroleum imports. Authorities said the decision aims to bring import costs in line with the current domestic market conditions.
Officials indicated that the new duty is expected to raise the pump price of petrol by about N99.72 per litre.
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Business1 day agoTranscorp Hilton Abuja hosts media executives, reaffirms commitment to strong partnership ( VIDEO)
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National News21 hours agoFG releases ₦2.3bn to clear University Lecturers’ Salary, others
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Sports1 day agoFlamingos bow out of U-17 Women’s World Cup after 4-0 defeat to Italy
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News1 day agoDele Momodu urges Tinubu to free Nnamdi Kanu for peace in Southeast
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National News1 day agoBREAKING: Tinubu reviews clemency list, exclude convicts of kidnapping, drug, human trafficking
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National News1 day agoFIRS orders 10% withholding Tax on Interest from short-term securities
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News1 day agoNewly appointed Service Chiefs arrive Senate for screening