FG Suspends 15% Import Duty on Petrol, Diesel Amid Public Concerns

The Federal Government has suspended the planned implementation of a 15 per cent import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), commonly known as petrol and diesel.

This was announced in a statement on Thursday by George Ene-Ita, spokesperson of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Ene-Ita assured Nigerians that there is no cause for panic buying, emphasizing that the country currently has adequate supplies of petroleum products nationwide.

“It should also be noted that the implementation of the 15 percent ad valorem import duty on imported premium motor spirit and diesel is no longer in view,” the statement read.

The NMDPRA further stated that the domestic supply of petrol, diesel, and liquefied petroleum gas (LPG) remains robust — sourced from both local refineries and importation — to maintain stable stock levels across depots and filling stations during the current peak demand period.

The Authority cautioned against hoarding, panic buying, and arbitrary price increases, stressing that it will continue to monitor market activities to prevent disruptions in supply and distribution.

“The public is hereby assured of NMDPRA’s commitment to guarantee energy security,” the statement added.

President Bola Ahmed Tinubu had, late last month, approved the implementation of the 15 per cent import duty as part of efforts to encourage local refining, particularly in support of the Dangote Refinery.

The policy, however, sparked mixed reactions among stakeholders and citizens — with some describing it as a strategic move to promote local production, while others warned it could worsen economic hardship by pushing fuel prices higher.

With the latest suspension, the Federal Government appears to be responding to those public concerns, seeking to balance support for domestic refining with short-term economic relief for Nigerians.