The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the planned 15% ad-valorem import duty on Premium Motor Spirit (PMS) and diesel imports will no longer be implemented.
In a statement released Thursday on its X platform, George Ene-Ita, Director of Public Affairs at NMDPRA, confirmed the suspension, clarifying that the earlier proposal to impose the import duty is now off the table.
Earlier reports indicated that President Bola Tinubu had approved the 15% import duty on petrol and diesel shipments into Nigeria.
The NMDPRA further reassured the public that there is a sufficient supply of petroleum products nationwide, meeting the national sufficiency requirements during this period of high demand.
“There is a strong and steady supply of petroleum products such as AGO, PMS, and LPG from both local refineries and imports to ensure timely restocking at depots and retail outlets,” the authority stated.
The regulator urged consumers and businesses to avoid hoarding, panic buying, or unjustified price increases of fuel products.
NMDPRA emphasised its ongoing monitoring of the supply situation and its readiness to take necessary regulatory actions to prevent disruptions in fuel distribution across the country during this peak demand season.
Appreciating the efforts of stakeholders across the midstream and downstream sectors, the authority assured Nigerians of its unwavering commitment to ensuring energy security.
