The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has officially announced that the previously proposed 15 per cent ad-valorem import duty on petrol and diesel will no longer be enforced. This decision comes amid widespread discussions and concerns regarding the potential economic impact of the levy on consumers and the petroleum sector as a whole.
In a statement released on Thursday, the NMDPRA’s Director of Public Affairs, George Ene-Ita, emphasized the importance of avoiding panic buying of fuel, reassuring Nigerians that the country currently maintains sufficient petroleum product reserves to meet national demand. He highlighted that both local production from refineries and imported supplies are stable and adequate, ensuring continuous availability at fuel depots and filling stations nationwide.
Public Reassured of Sufficient Fuel Supply
According to the statement, “The Authority wishes to assure the public that there is adequate supply of petroleum products in the country within acceptable national sufficiency levels.” Ene-Ita stressed that there is no need for panic purchases or hoarding, noting that fuel price stability would be maintained and arbitrary increases would not be tolerated by regulatory authorities.
The NMDPRA also warned fuel marketers and distributors against spreading false information or attempting to exploit public fears, reiterating that the suspension of the duty is meant to safeguard both consumer interests and energy security in the country.
Background of the Proposed Duty
Earlier this year, the Federal Inland Revenue Service (FIRS) had proposed introducing a 15 per cent import duty on petrol and diesel. The measure was intended to promote domestic refining, reduce reliance on imported fuel, and generate revenue for the government. Proponents of the duty argued that it would encourage investment in local refineries, particularly as the Dangote Refinery and other local facilities ramp up production capacities, ultimately boosting self-sufficiency in petroleum products.
However, the proposal was met with significant opposition. Critics warned that imposing the levy could lead to higher fuel prices for consumers, exacerbate inflationary pressures, and increase the cost of transportation and goods across the country. Many stakeholders in the petroleum and business sectors voiced concerns that the policy could worsen the economic hardships faced by ordinary Nigerians, especially in a climate of rising living costs and energy price volatility.
While the NMDPRA did not explicitly provide reasons for suspending the proposed duty, the statement emphasized that the regulatory body will continue to closely monitor fuel supplies, oversee the stability of petroleum distribution networks, and maintain national energy security. The agency also reiterated its commitment to ensuring that Nigerians have uninterrupted access to petrol and diesel at fair and regulated prices, encouraging consumers to remain calm and avoid unnecessary panic purchases amid speculation or rumors regarding new fuel taxes or import levies.
In conclusion, the NMDPRA’s suspension of the 15 per cent import duty underscores the government’s recognition of the need to balance domestic refinery growth with consumer protection and economic stability. Citizens have been urged to rely on official communications from the Authority for accurate updates regarding fuel supply and pricing, and to disregard unverified claims circulating on social media or other informal channels.