The Federal Government of Nigeria has put on hold the implementation of the earlier announced 15% ad-valorem duty on imported petroleum and Diesel.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced this in a statement on Thursday by its Director of Public Affairs Department, George Ene-Ita.
Recall that President Bola Tinubu recently gave presidential approval for a 15% ad-valorem import duty on diesel and Premium Motor Spirit (PMS), popularly called petrol.
The approval was communicated in a letter dated October 21,2025, signed by the President’s Private Secretary, Damilotun Aderemi, and sent to the Attorney General of the Federation and Minister of Justice, the Chairman of the Federal Inland Revenue Service (FIRS) and the Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The move follows an earlier request by FIRS to impose a 15 percent duty on the cost, insurance, and freight (CIF) value of petroleum imports.
According to the FIRS, the tariff aimed at reinforcing national energy security, safeguarding local refining capacity, stabilising the downstream market, and ensuring a fair and competitive pricing environment, in line with President Bola Tinubu’s Renewed Hope Agenda.
However, the NMDPRA disclosed today that “the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view.”
The Authority 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.
It said 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.
NMDPRA, therefore, advised against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products.
It said it would 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, the Authority reiterated its commitment to energy security.
