Nigerian govt suspends implementation of 15% petrol import duty
The Federal Government has suspended the planned 15% import duty on petrol (PMS) and diesel (AGO), earlier approved to encourage local refining.
In a statement on Thursday, George Ene-Ita, spokesperson of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), announced the suspension and urged Nigerians to avoid panic buying or hoarding, assuring that fuel supply remains stable nationwide.
“The implementation of the 15% ad valorem import duty on imported PMS and diesel is no longer in view,” the statement read. NMDPRA also emphasized that local and imported fuel stocks are sufficient to meet national demand and warned against artificial price hikes.
The suspension follows public outcry over the policy, which many critics said would worsen economic hardship by increasing fuel prices, even though it was initially intended to support the Dangote Refinery and boost domestic refining capacity.
