The Federal Government has shelved plans to introduce the controversial 15% ad-valorem import duty on Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (diesel).
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) made this known in a statement posted on its official X handle on Thursday, assuring Nigerians that the policy is “no longer in view.”
“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 announcement comes weeks after reports that President Bola Tinubu had approved the import duty, sparking public concern over potential fuel price hikes and further inflationary pressure.
The NMDPRA also reassured citizens that there is no fuel scarcity threat, stressing that product supply remains stable nationwide despite rising demand.
“There is a robust domestic supply of petroleum products—AGO, PMS, LPG—sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period,” the statement added.
The Authority urged marketers to avoid hoarding, panic buying, or artificial price increases, warning that it would enforce strict regulatory measures to maintain market stability.
“The Authority 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 this peak demand period.”
The agency also expressed appreciation to operators in the midstream and downstream sectors for their collaboration and reaffirmed its commitment to energy security and uninterrupted product availability.
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