FG Backs Down On 15% Petrol, Diesel Import Duty Amid Public Outcry

By ESTHER McWILLIS-IKHIDE

THE Federal Government has suspended plans to implement a 15 per cent import duty on petrol and diesel earlier approved by President Bola Tinubu.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the decision in a statement on Thursday, saying the proposed tariff is “no longer in view.”

The levy, approved last month at the request of the Federal Inland Revenue Service (FIRS), was intended to encourage local refining and ensure stable fuel supply. However, the move drew criticism from stakeholders who warned it would raise pump prices and worsen economic hardship.

NMDPRA assured that fuel supply remains stable nationwide, urging against hoarding or panic buying. The agency also reaffirmed its commitment to ensuring uninterrupted distribution and maintaining energy security across the country.