Nigeria has abandoned plans to introduce a 15% import duty on petrol and diesel, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed on Thursday. The decision follows internal assessments and assurances that fuel supplies will remain steady throughout the holiday season.
The duty—initially approved by President Bola Tinubu as part of broader fiscal reforms to boost non-oil revenues—surfaced last month through a leaked government memo that indicated it would take effect in December.
In a formal statement, the NMDPRA said: “The implementation of the 15 percent ad-valorem import duty on imported premium motor spirit and diesel is no longer in view.”
The proposed levy had drawn strong pushback from fuel marketers, who warned it could shrink import volumes and leave the country heavily reliant on the 650,000-barrel-per-day Dangote Petroleum Refinery in Lagos. Although the refinery began operations last year, Nigeria—despite its status as Africa’s leading oil producer—still spends millions of dollars each year importing refined fuel.
With the duty now shelved, the NMDPRA sought to reassure Nigerians that fuel availability will remain uninterrupted during the festive period. The agency urged consumers to avoid panic buying, noting: “The Authority will continue to monitor supply and take necessary steps to avoid disruptions, especially during this peak demand period.”
Main Image: African Economy
