JUST-IN: Federal Government Suspends Implementation Of 15% PMS, Diesel Import Duty

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) is no longer being considered.

In a statement posted on its X handle on Thursday, the Director of Public Affairs, George Ene-Ita, said, “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.”

LEADERSHIP recalls that President Bola Tinubu approved the introduction of the duty on petrol and diesel imports into the country.

The NMDPRA, however, assured Nigerians of adequate petroleum supply nationwide, maintaining that product availability remains within acceptable national sufficiency levels during this period of high 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 also cautioned against hoarding, panic buying, or arbitrary price increases, stating that it would continue to closely monitor the situation and take necessary regulatory actions to ensure stable distribution nationwide.

While appreciating stakeholders in the midstream and downstream value chain for their continued collaboration, NMDPRA reaffirmed its commitment to ensuring an uninterrupted fuel supply and safeguarding Nigeria’s energy security.