The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the proposed implementation of a 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel) will no longer go ahead.
In a statement released on its X handle on Thursday, the Director of Public Affairs, George Ene-Ita, clarified: “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.”
Recalls that President Bola Tinubu had earlier approved the introduction of the duty on petrol and diesel imports. However, the NMDPRA assured Nigerians of sufficient fuel supply across the country, stating that product availability remains within acceptable national sufficiency levels despite increased demand.
“There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc.) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations,” the statement read.
The Authority cautioned against hoarding, panic buying, and arbitrary price hikes, pledging to continue close monitoring and enforce regulatory measures to maintain stability in the downstream sector.
While appreciating stakeholders for their collaboration, the NMDPRA reaffirmed its commitment to ensuring uninterrupted fuel supply and safeguarding Nigeria’s energy security.
