FG Suspends 15% Fuel Import Duty as Government Assures Nigerians of Nationwide Supply Stability
The Federal Government has suspended the proposed 15 percent ad-valorem import duty on petrol and diesel, a policy that had sparked concerns about potential price increases and supply pressures. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed the development on Thursday, assuring citizens that fuel supply across the country remains stable as demand peaks during the festive season. In its statement, the Authority emphasized that the implementation of the duty is “no longer in view,” signaling a major policy shift in response to market realities.
This suspension comes just weeks after President Bola Tinubu approved the import duty through a directive conveyed to the Federal Inland Revenue Service (FIRS) and the NMDPRA. Oil marketers had criticized the approved duty, warning that the additional levy would worsen pump prices and make it harder for importers to cover the supply gap created by insufficient local refining. For many players in the downstream sector, the relief marks a critical step toward maintaining market stability and preventing further financial strain on consumers.
According to the NMDPRA, current fuel availability remains strong, supported by supplies from both domestic refineries and import channels. The Authority said products such as petrol, diesel, and liquefied petroleum gas (LPG) are flowing in “robust and steady” quantities to keep depots and retail stations adequately stocked. It added that regulatory teams are closely monitoring the national distribution network to ensure disruptions and artificial scarcity do not affect consumers.
The regulator further warned marketers and depot operators against hoarding, panic buying, or implementing unjustified price increments. It stressed that any practices that distort the market or create scarcity will be met with strict enforcement action. The government maintains that transparent pricing and responsible conduct from operators are essential to keeping the downstream sector stable during the busy end-of-year period.
Meanwhile, Dangote Petroleum Refinery has expressed support for the federal government’s earlier duty approval, arguing that such tariffs help protect local refiners and discourage the dumping of imported fuel. The refinery insists it has enough production capacity to meet national demand, revealing that it currently loads about 45 million litres of petrol and 25 million litres of diesel daily. It also stated its commitment to working with regulators to ensure uninterrupted nationwide distribution.
source: Nairametrics