NMDPRA confirms cancellation of proposed 15% import duty on petrol, diesel

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that the previously proposed 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and Diesel will no longer be implemented.

In a statement on its X handle on Thursday, George Ene-Ita, Director of the Public Affairs Department at NMDPRA, said, “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 reports had indicated that President Bola Tinubu approved the introduction of the import duty on petrol and diesel imports. However, NMDPRA reassured Nigerians that the country currently has an adequate supply of petroleum products, meeting the national sufficiency threshold even during this peak demand period.

The Authority added that there is a robust domestic supply of petroleum products, including AGO, PMS, and LPG—sourced from both local refineries and imports, ensuring timely replenishment at storage depots and retail stations.

NMDPRA also urged the public to avoid hoarding, panic buying, or any non-market-driven price increases, emphasizing that the supply situation will continue to be closely monitored.

The Authority reiterated its commitment to ensuring uninterrupted distribution of petroleum products and safeguarding energy security across Nigeria.