The Nigerian government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has announced suspension of the proposed 15 per cent duty on imported Premium Motor Spirit also known as petrol and Diesel.
NMDPRA made this known in a statement released on Thursday, November 13, signed by its Director, Public Affairs Department, George Ene-Ita.
The Authority assured that there is adequate supply of petroleum products in the country and advised the public against panic buying.
Pinnacle Daily had reported that President Bola Tinubu approved a I5% ad-valorem duty on imported petrol and Diesel. The president had in a letter dated October 21, 2025, and addressed to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, directed immediate implementation of the tariff as part of what the government described as a “market-responsive import tariff framework.”
The tariff policy proposed by the Executive Chairman of the FIRS, Zacch Adedeji, was part of measures designed to boost local refining capacity, and ensure a stable supply of petroleum products across Nigeria.
However, the announcement of the proposal generated mixed reactions for various stakeholders both in and outside the oil and gas sector. While some hailed the policy as a good step towards boosting domestic refining and discouraging imports, others warned against potential scarcity and higher prices if domestic production capacity fails to meet national demands.
Allaying fears of scarcity, NMDPRA said there is adequate supply of petroleum products sourced through domestic production and importation.
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The statement reads: “The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) wishes to assure 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.
“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.
“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 I5% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view.”
The downstream regulator said it will 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 the peak demand period.
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While appreciating the continued efforts of all stakeholders in the industry value chain in ensuring a smooth and uninterrupted supply and distribution NMDPRA assured its commitment to guarantee energy security.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in mass communication.
