-
The Nigerian government has suspended the planned 15% import duty on petrol (PMS) and diesel (AGO).
-
NMDPRA assures Nigerians of stable petroleum supply and urges avoidance of panic buying.
-
The move comes after mixed reactions over the initial approval intended to encourage the Dangote Refinery.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed that the proposed 15 per cent ad-valorem import duty on imported petrol and diesel will no longer be implemented.
In a statement on Thursday, George Ene-Ita, Director of Public Affairs for NMDPRA, reassured Nigerians that the country’s petroleum supply remains adequate and stable, particularly during the current peak demand period.
READ ALSO: Tears as Lagos Government Demolishes Shops, Houses Under Powerlines
ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!
“There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc.) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period,” the statement read.
The regulator also warned against hoarding, panic buying, and arbitrary price increases, promising continued monitoring and regulatory action to maintain nationwide distribution stability.
The suspension follows an earlier decision by President Bola Ahmed Tinubu to implement the 15% import duty, a policy intended to support Dangote Refinery. Economists and stakeholders had offered mixed reactions, with some praising the move while others expressed concerns over higher fuel costs for Nigerians.
