The recent announcement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to suspend the implementation of 15 per cent import duty on refined petroleum products for six months has sparked mixed reactions among stakeholders, with experts and oil marketers holding divergent views on its potential impact. The NMDPRA had on Thursday, November 13, …
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 Nigeria Employers' Consultative Association (NECA) has commended the Nigerian government's recent introduction of a 15 per cent import tariff on petrol and diesel, saying that it will strengthen the naira and support the industrialisation agenda in the country. NECA described the policy as a necessary step to stimulate local investment, strengthen the economy, and …
Financial expert Funsho Doherty has slammed the recently approved 15% import duty on petrol and diesel, warning that it could further strain Nigerian households already grappling with high fuel costs. In an open letter to Senate President Godswill Akpabio, Doherty, who previously worked with Goldman Sachs & Co., PNC Advisors, Arthur Andersen, and served as …
