FG suspends planned 15% import duty on petrol and diesel

The Federal Government, under President Bola Ahmed Tinubu, has suspended the planned implementation of a 15% ad-valorem import duty on imported Premium Motor Spirit (PMS), or petrol, and Diesel.
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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), through its Director of Public Affairs, George Ene-Ita, announced the decision on Thursday, stating that the implementation is no longer in view. The reversal comes after public and stakeholder concern that the tariff would drastically increase pump prices for consumers, potentially pushing petrol over ₦1,000 per litre before local refining capacity can meet national demand.
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The tariff was initially approved by President Tinubu on October 29, 2025, following a proposal aimed at strengthening local refining capacity (particularly to benefit facilities like the Dangote Refinery) and aligning import costs with domestic market realities. The policy was intended to make imported fuel more expensive, thus protecting and promoting the nascent domestic refining sector in the country.
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However, critics, including energy experts and market operators, warned that with Nigeria still heavily reliant on fuel imports, the tariff would simply add costs estimated at up to ₦150 per litre or more to the consumer, exacerbating inflation and hardship.
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The NMDPRA cautioned the public against hoarding, panic buying, or non-market reflective escalation of prices during this peak demand period, assuring that regulatory measures will be taken to prevent supply disruption.
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