The Federal Government has put a hold on its earlier plan to introduce a 15 percent import levy on petrol and diesel, a move that had sparked concerns among industry players and consumers.
In an official statement released on Thursday, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed the suspension, reassuring Nigerians of stable fuel supply across the country.
The announcement, signed by George Ene-Ita, the Director of the Public Affairs Department at NMDPRA, emphasized that there is no cause for panic ahead of the busy end-of-year period. Ene-Ita noted that the authority has ensured sufficient stock of petroleum products to meet national demand throughout the festive season.
“We appeal to the public to avoid panic buying, hoarding, or any activities that could trigger unnecessary price increases in the market,” the statement read in part.
The suspended levy had been previously approved by President Bola Tinubu, following a proposal from the Federal Inland Revenue Service (FIRS) to align import costs with domestic realities. The approval, reportedly conveyed in a letter dated October 21, 2025, directed that the 15 percent duty be applied on the cost, insurance, and freight (CIF) value of imported petrol and diesel.
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Sources confirmed that Tinubu’s approval was communicated to both the FIRS and the NMDPRA by his private secretary, Damilotun Aderemi.
However, with Thursday’s announcement, the federal government appears to have stepped back from implementing the tariff—at least for now—likely in response to public concern and the potential impact on fuel prices.
The NMDPRA assured that it will continue to work closely with stakeholders in the downstream sector to maintain market stability and ensure smooth fuel distribution nationwide.
