The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed the suspension of a proposed 15% ad valorem import duty on petrol and diesel that had been approved earlier by President Bola Tinubu.
The duty — calculated on CIF value — would have added roughly ₦99.72 to each litre of petrol, but NMDPRA’s statement says implementation is “no longer in view.”
In the announcement, the authority reassured the public that national petroleum product stocks remain within acceptable sufficiency thresholds and warned against hoarding and panic buying.
NMDPRA said domestic supply is robust, sourced from local refineries and imports, and that authorities will monitor distribution to prevent artificial price spikes during peak demand.
The reversal brings relief to consumers already facing fuel cost pressures, but it leaves open policy questions about long-term pricing, revenue, and protection of local refining margins.
Regulators urged stakeholders to cooperate to ensure smooth supply, while noting that further regulatory measures will be deployed if market distortions surface.
For now, motorists and transport operators can expect the immediate threat of an automatic fuel price jump tied to the proposed duty to be off the table.
