The Federal Government has suspended the planned 15% import duty on petrol and diesel, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
In a statement on Thursday, November 13, signed by the NMDPRA Director, Public Affairs Department, George Ene-Ita, the authority revealed that the implementation of the 15 per cent ad-valorem import duty on petrol and diesel had been suspended.
This followed reports that President Bola Tinubu had approved a 15 per cent import duty on petrol and diesel, a move that was expected to raise pump prices nationwide.
The directive, dated October 21, 2025, and communicated to the Federal Inland Revenue Service (FIRS), NMDPRA, and the Nigeria Customs Service, was reportedly aimed at aligning fuel import pricing with domestic production and protecting local refineries.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) urged Nigerians to avoid panic buying of petroleum products, assuring that there is sufficient supply across the country.
The Presidency explained that the policy was part of wider reforms to strengthen domestic refining capacity and reduce reliance on imported fuel. It followed the Federal Executive Council approval of July 29, 2024, which allowed crude oil for domestic use and refined products to be traded in naira.
However, the NMDPRA, on Wednesday, said the implementation of the 15 per cent ad-valorem import duty on petrol and diesel had been suspended.
The organisation said there was a robust domestic supply of petroleum products sourced from both local refineries and imports, to ensure the timely replenishment of stocks at depots and filling stations nationwide.
“The Authority wishes to use this opportunity to advise against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products. It should also be noted that the implementation of the 15 per cent ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” the statement read.
The NMDPRA added that it would continue to monitor the supply situation and take regulatory measures to prevent disruptions in distribution during this peak demand period.
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