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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced 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 shared on its official X handle on Thursday, George Ene-Ita, Director of Public Affairs at NMDPRA, confirmed the suspension of the planned import levy.
This move reverses earlier reports that President Bola Tinubu had approved the introduction of a 15 per cent import duty on petrol and diesel entering Nigeria.
NMDPRA also assured Nigerians of sufficient availability of petroleum products nationwide, maintaining an acceptable supply level during this peak demand period.
“There is a consistent and reliable supply of petroleum products, including AGO, PMS, and LPG, sourced from both domestic refineries and imports to ensure timely replenishment at storage depots and retail outlets,” the agency stated.
The regulator warned against hoarding, panic buying, or unjustified increases in fuel prices, urging stakeholders to maintain fair market practices.
NMDPRA pledged to continuously monitor the fuel supply and take necessary regulatory actions to prevent any disruptions in distribution across the country, particularly during this high-demand season.
Expressing appreciation for the cooperation of all players in the petroleum value chain, the authority reaffirmed its dedication to safeguarding Nigeria’s energy security.
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