NMDPRA suspends 15% fuel import duty

By Olakunle Oke

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced the suspension of the proposed 15 percent ad-valorem import duty on imported Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel).

In a statement signed by its Director of Public Affairs, George Ene-Ita, the Authority said the decision was taken to stabilise supply and pricing of petroleum products across the country amid ongoing market fluctuations.

NMDPRA assured Nigerians that there is adequate availability of petrol, diesel, and liquefied petroleum gas (LPG) from both domestic refineries and importation channels. The agency said the move would help sustain the nation’s energy sufficiency, particularly during the current period of increased demand.

“The Authority wishes to advise against panic buying or non-market reflective escalation of prices of petroleum products,” the statement read.

The Authority also cautioned marketers and consumers against hoarding, noting that there is a robust domestic supply to meet national demand.

NMDPRA reaffirmed its commitment to closely monitoring the distribution network to ensure uninterrupted supply across depots and retail outlets nationwide.

It further commended stakeholders in the downstream petroleum sector for their cooperation in maintaining market stability and reiterated its dedication to safeguarding Nigeria’s energy security.