The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the proposed 15% ad-valorem import duty on Premium Motor Spirit (PMS) and Diesel will not be implemented.
This decision comes after the government initially approved the duty in a move seen as favoring billionaire Aliko Dangote’s Lagos refinery over independent fuel importers.
In a statement, NMDPRA assured Nigerians of its commitment to maintaining price stability and adequate supply of petroleum products.
The authority also warned against panic buying, hoarding, or artificial price hikes, emphasizing that domestic supply remains robust through local production and importation.
The NMDPRA will continue to monitor the market to ensure stability and prevent disruption of supply and distribution of petroleum products.
The decision is seen as a relief to Nigerians who were concerned about the potential impact of the duty on fuel prices.
