The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has officially scrapped plans for a 15% ad-valorem duty on imported Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel), easing cost pressures on fuel consumers and transporters.
In a statement released Thursday via its official X account, NMDPRA spokesperson George Ene-Ita confirmed: “The proposed 15% ad-valorem import duty on PMS and diesel is no longer under consideration.”
The decision reverses an earlier directive from President Bola Tinubu that would have imposed the levy starting next year. The about-face follows industry pushback over potential price hikes at the pump amid already elevated living costs.
Stockpiles Secure, Hoarding Discouraged
Regulators simultaneously moved to calm market nerves, affirming ample nationwide fuel availability even as seasonal demand peaks.
“Local refineries and imports are delivering robust volumes of PMS, diesel, and cooking gas to depots and stations,” the agency noted. “Stocks remain well above national sufficiency levels.”
Authorities issued a stern warning against speculative behavior: “Hoarding, panic purchases, or arbitrary price gouging will not be tolerated.” NMDPRA pledged round-the-clock surveillance and swift enforcement to safeguard uninterrupted supply chains.
The regulator commended operators across the value chain for maintaining seamless logistics and reiterated its mandate to uphold energy security for all Nigerians.
