The federal government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday announced the cancellation of the proposed 15 per cent ad-valorem import tariff on imported fuel and diesel.
The Director of Public Affairs, NMDPRA, George Ene-Ita, made this known in a statement via the agency’s official X (Twitter) handle.
According to him, the proposed tariff was no longer under consideration.
He wrote: “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.”
NMDPRA further stated that there is a robust domestic supply of petroleum products diesel, fuel and cooking gas (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
It assured Nigerians that the supply of petroleum products remains stable and sufficient to meet national demand during the current peak consumption period.
NMDPRA also cautioned against hoarding, panic buying, or arbitrary price increases, adding that it would continue to monitor supply and take necessary regulatory steps to ensure stability in distribution nationwide.
