President Bola Tinubu has approved the implementation of a 15 percent ad-valorem import duty on petrol and diesel imports into Nigeria.
The approval was detailed in a letter dated October 21, 2025, signed by the President’s Private Secretary, Damilotun Aderemi, and addressed to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
According to the directive, the new tariff will apply to the cost, insurance, and freight (CIF) value of imported Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO). The FIRS had earlier recommended the measure to help “align import costs with domestic economic realities.”
“The President has approved the application of a 15 percent ad-valorem import duty on the cost, insurance, and freight (CIF) value of imported diesel and premium motor spirit (PMS),” the letter stated.
The new import duty is expected to increase the landing cost of petrol by about ₦99.72 per litre, a development that may likely affect pump prices across the country.
As of press time, neither the FIRS nor the NMDPRA had released an official statement on when the new tariff would take effect.
