The Federal Government has suspended its earlier plan to implement a 15% import duty on petroleum products, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed on Thursday.
In a statement signed by George Ene-Ita, Director of the Public Affairs Department, NMDPRA, the agency said the policy is “no longer in view” and urged Nigerians to avoid panic buying.
President Bola Tinubu had approved the controversial tariff on October 29, 2025, following a proposal by Federal Inland Revenue Service (FIRS) Chairman, Zacch Adedeji. The plan sought to impose a 15% duty on petrol and diesel imports to align import costs with domestic market realities.
The proposal, which had been scheduled to take effect on November 21, 2025, was also meant to encourage local refining by making imported fuel more expensive. The move was widely seen as an effort to protect investments in Dangote Refinery and other modular refineries across the country.
However, experts had warned that the new tariff could push pump prices higher by as much as ₦150 per litre, worsening inflation and transportation costs for consumers.
In its Thursday statement, NMDPRA clarified that the policy would not be implemented as earlier planned.
“It should be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit (PMS) and Diesel is no longer in view,” the agency stated.
The regulator also assured Nigerians that there is adequate fuel supply nationwide, noting that the country’s stock remains within acceptable sufficiency levels during this peak demand period.
“There is a robust domestic supply of petroleum products sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations,” it added.
NMDPRA further warned against hoarding, panic buying, or artificial price hikes by marketers. It said it will continue to monitor the market and enforce measures to prevent any disruption in fuel distribution.
“The Authority remains committed to guaranteeing energy security and ensuring smooth supply and distribution of petroleum products across Nigeria,” the statement concluded.
The agency also thanked industry stakeholders for their cooperation in maintaining stable fuel availability across the country.