The Nigerian Government has halted the enforcement of the 15% import duty on petrol and diesel.
George Ene-Ita, spokesperson for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), stated on Thursday that Nigerians should avoid panic buying of petrol and diesel, assuring that the country has sufficient fuel supply nationwide.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced that the planned 15% ad valorem import duty on imported petrol and diesel will no longer be implemented.
The authority further assured Nigerians that petroleum products remain adequately available across the country, meeting the national sufficiency threshold
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) assures the public of a robust domestic supply of petroleum products—including AGO, PMS, and LPG—sourced from both local refineries and imports to maintain timely stock replenishment at storage depots and retail stations during this period. The Authority also urges consumers to avoid hoarding, panic buying, or any unjustified price increases.
The Authority will maintain close oversight of the petroleum supply chain and implement necessary regulatory actions to ensure uninterrupted supply and distribution of petroleum products nationwide, particularly during this peak demand period.”
While acknowledging the ongoing efforts of all stakeholders in the midstream and downstream sectors to maintain smooth and uninterrupted supply and distribution, the public is assured of NMDPRA’s steadfast commitment to ensuring national energy security.”
Some view it as a positive step to support Dangote Refinery, while others contend it could increase petrol and diesel prices, worsening hardship for Nigerians.