Imported petrol will no longer attract the 15% import duty after the Federal Government decided to suspend the policy, bringing relief to many Nigerians who feared another fuel price hike.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the decision in a statement signed by Director of the Public Affairs Department, George Ene-Ita.
Origins Of The Duty
The story began in October 2025, when President Bola Ahmed Tinubu approved a 15% duty on imported Premium Motor Spirit (PMS) and diesel.
Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, had proposed the policy to align import costs with domestic market realities and encourage local refining.
Shortly after, the President’s Private Secretary, Damilotun Aderemi, confirmed the approval in an official letter.
Adedeji explained that the duty formed part of wider fiscal and energy reforms.
These reforms aimed to strengthen the naira-based oil economy, stabilise fuel prices, and speed up Nigeria’s shift toward local refining under the Renewed Hope Agenda.
Imported Petrol Duty Suspended
However, the announcement quickly stirred public concern.
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Oil and gas operators warned that the new charge could raise pump prices, worsen inflation, and increase import costs.
They also argued that local refineries such as Dangote and modular plants still needed time to reach full production capacity.
In response to these concerns, the government reversed course.
On Thursday, Ene-Ita declared that the 15% import duty on petrol and diesel would no longer take effect.
He assured Nigerians that the country currently maintains a stable fuel supply.
“We have a strong domestic stock of petroleum products—diesel, petrol, and LPG—sourced from both local refineries and imports,” he said.
“We urge citizens to avoid panic buying, hoarding, or inflating prices.”
Industry Oversight And Assurance
Furthermore, Ene-Ita emphasised that the Authority will continue to track supply levels and take prompt regulatory action to prevent any disruption in fuel distribution during this high-demand season.
For many Nigerians, the suspension offers a much-needed reprieve while the government re-evaluates how to balance revenue goals with economic stability.
