The federal government on Thursday announced the suspension of the fresh 15 per cent import duty on imported petrol and diesel, stressing that the implementation was ‘no longer in view’.
A statement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), also assured Nigerians that the country has robust domestic supply of petroleum products sourced from both local refineries and importation to ensure timely replenishment of stocks.
It therefore warned against panic buying of petroleum products, urging Nigerians to go about their normal duties, without apprehension over the availability of critical fuels.
Nigeria’s recent decision to impose a 15 per cent import duty on petrol and diesel was conceived in some quarters as a bold step toward reducing the country’s dependence on imported refined products and encouraging the use of locally produced fuel in certain quarters.
On the other hand, the duty, many argued, would add to the per litre landing cost of petrol and diesel, which would almost certainly raise pump prices. The plan, approved by President Bola Tinubu in late October 2025, was part of efforts to protect emerging domestic refineries, particularly the Dangote Refinery, which has been increasing output.
The government’s argument was that Nigeria could not continue to rely on imported fuel when it now possessed growing refining capacity that needed to be protected and made competitive. Officials also saw the tariff as a way to curb excessive importation, strengthen the naira by reducing demand for foreign exchange, and create incentives for local value addition in the downstream oil sector.
However, the proposal immediately triggered widespread concern as labour groups, business owners, and consumer advocates warned that the duty would push up fuel prices, deepen inflation, and worsen the already heavy burden on households.
But the NMDPRA, in the statement signed by its Director, Public Affairs Department, George Ene-Ita, stated that the take-off of the initiative had been put in abeyance.
“The Authority wishes to use this opportunity to advise against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products. It should also be noted that the implementation of the 15 per cent ad-valorem import duty on imported Premium Motor Spirit (PMS) and diesel is no longer in view,” it stated.
Besides, the NMDPRA assured the general public that there is adequate supply of petroleum products in the country, within the acceptable national sufficiency threshold during this peak demand period.
“There is 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,” it added.
The Authority stated that it will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruption of supply and distribution of petroleum products across the country, especially during this peak demand period.
While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring a smooth and uninterrupted supply and distribution, it assured the public of NMDPRA’s commitment to guarantee energy security nationwide.
Emmanuel Addeh
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