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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National News1 day agoNational Assembly approves Tinubu’s request to borrow ₦1.15 Trillion for 2025 Budget deficit
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National News1 day agoSenate rejects NNPC’s explanation over missing ₦210 Trillion, demands CEO’s appearance
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News1 day agoBuratai blasts Wike over clash with Soldiers, calls incident a threat to national security
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National News1 day agoNigeria, Chad deepen security, trade ties amid rising regional tensions
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News1 day agoGabon Court jails ex-First Lady, Son of ousted President Ali Bongo for 20 Years over corruption
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News1 day agoDefence Minister pledges protection for Soldiers on lawful duty amid Wike confrontation
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News1 day agoKatsina Youths protest after fresh bandit raid leaves one dead, 17 kidnapped
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News23 hours agoNigeria must protect its media voice – Obaigbena