The Federal government of Nigeria has suspended the implementation of the proposed 15% import tax on petrol and diesel.
ThemomentNG reports that this was announced in a statement on Thursday by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The statement, signed by the NMDPRA Director, Public Affairs Department, George Ene-Ita, also assured Nigerians that there is an adequate supply of petroleum products in the country during the peak demand period of the incoming yuletide.
The authority advised members of the public against hoarding, panic buying, or other non-market-driven escalation of petroleum prices.
It would be recalled that President Bola Tinubu had approved a 15 per cent import duty on diesel and premium motor spirit (PMS), also known as petrol.
Sources also learnt that the private secretary to the president, Damilotun Aderemi, conveyed Tinubu’s approval to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
According to TheCable, Tinubu approved the request in a letter dated October 21, 2025, after the FIRS requested that the 15 per cent duty be applied to the cost, insurance, and freight (CIF) to align import costs with domestic realities.
The letter also stated that the implementation of the import duty will increase the price of a litre of petrol by an estimated ₦99.72 kobo.
However, the statement by NMDPRA on Thursday noted that “the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view.”
It affirmed the commitment of the authority to ensuring a smooth and uninterrupted supply of petroleum products.
