The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced the suspension of the proposed 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel).
In a statement released on Thursday via its official X handle, the Director of Public Affairs, George Ene-Ita, clarified that the proposal was no longer being considered for implementation.
“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,” Ene-Ita stated.
The clarification followed earlier reports suggesting that President Bola Ahmed Tinubu had approved the imposition of the new import duty on petroleum products entering the country.
NMDPRA assured Nigerians that fuel supply across the nation remains stable and sufficient to meet growing demand during the current peak consumption period.
“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 during this period,” the statement read.
The Authority also cautioned against hoarding, panic buying, or arbitrary price increases, stressing that it will continue to closely monitor supply levels and take necessary regulatory actions to maintain stability across the downstream sector.
NMDPRA further expressed appreciation to stakeholders in the petroleum industry for their cooperation and commitment to ensuring uninterrupted fuel distribution nationwide.
