The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced the suspension of the proposed 15% ad-valorem import duty on imported petrol (PMS) and diesel (AGO), effectively preventing a sharp rise in fuel prices across the country.
The tariff, initially approved by the Federal Government, was to be applied to the Cost, Insurance, and Freight (CIF) value of imported petroleum products. Analysts had warned that implementing the duty would have pushed fuel prices closer to the N1,000 per litre mark in some parts of Nigeria, worsening inflation and increasing the cost of transportation and basic goods.
The NMDPRA confirmed in a public statement that the “implementation of the 15% ad-valorem import duty is no longer in view,” assuring Nigerians that there is adequate fuel supply from both local refineries and import sources.
The agency also cautioned marketers against hoarding or speculative price increases, reiterating its commitment to maintaining stable supply and monitoring market conduct closely.
The suspension provides much-needed relief to citizens already grappling with rising living costs. By halting the import tariff, the Federal Government has eased fears of immediate fuel price hikes and helped stabilize the market pending full operational capacity from local refineries such as Dangote Refinery.
This decision is seen as a strategic move to balance economic realities with consumer protection while sustaining confidence in Nigeria’s downstream sector.
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