Regulatory body assures Nigerians of steady fuel supply amid peak demand…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the proposed implementation of a 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), also known as diesel, is no longer under consideration.
This disclosure was made in a statement issued on Thursday by the Director of Public Affairs Department, George Ene-Ita, and posted on the Authority’s official X (formerly Twitter) handle.
“It should also be noted that the implementation of the 15 per cent ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” the statement read.
The decision comes after an earlier approval by President Bola Tinubu for the introduction of the 15 per cent import duty on petrol and diesel imports into the country.
Reassuring the public of adequate product availability, the NMDPRA stated that there is a robust domestic supply of petroleum products including AGO, PMS, and LPG, sourced from both local refineries and imports, ensuring steady replenishment at depots and retail outlets nationwide.
The Authority also cautioned against panic buying, hoarding, or arbitrary price increases, emphasizing that there is no cause for concern regarding the current fuel supply situation.
“The Authority 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,” the statement added.
NMDPRA expressed appreciation to stakeholders in the midstream and downstream sectors for their cooperation and commitment to maintaining smooth and uninterrupted operations. It reaffirmed its dedication to ensuring national energy security and stable fuel distribution across Nigeria.
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