The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has officially announced that the proposed 15 per cent ad-valorem import duty on petrol and diesel will no longer take effect.
The clarification came on Thursday through a statement issued by the Authority’s Director of Public Affairs, George Ene-Ita, who urged Nigerians to disregard rumours and avoid panic buying.
No Need for Panic — Fuel Supply Is Stable
The NMDPRA assured the public that Nigeria currently has adequate petroleum products to meet national demand.
According to the Authority, supplies from both local refineries and import sources remain steady, ensuring sufficient stock for depots and filling stations nationwide.
“The Authority wishes to assure the public that there is adequate supply of petroleum products in the country within acceptable national sufficiency levels,” the statement read.
The regulator also warned against hoarding or arbitrary price increases, insisting that the circulating rumours of new fuel taxes are unnecessary and misleading.
Background: The Controversial Proposed Duty
The now-suspended proposal originated from the Federal Inland Revenue Service (FIRS), which suggested a 15% import duty on petrol and diesel as part of strategies to encourage domestic refining and reduce dependence on imported fuels.
Industry analysts were divided:
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Supporters said the duty could attract investment into local refining, especially as the Dangote Refinery continues to expand operations.
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Critics, however, warned it would lead to higher pump prices and worsen the economic challenges already burdening citizens.
Although the NMDPRA did not reveal the reason for suspending the policy, it reaffirmed its commitment to closely monitoring fuel supply and safeguarding the country’s energy security.
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