The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the proposed 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and diesel is no longer being considered.
In a statement posted on its official X handle on Thursday, the Director of Public Affairs, George Ene-Ita, said the implementation of the import duty is no longer in view.
NMDPRA assured that the country has an adequate supply of petroleum products, including PMS, diesel, and liquefied petroleum gas (LPG), sourced from both local refineries and imports, to meet the peak demand period.
The authority urged Nigerians to avoid hoarding, panic buying, or price exploitation of petroleum products, stressing that it would continue to monitor supply and take necessary regulatory measures to prevent disruptions in distribution.
“While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring smooth and uninterrupted supply, the public is hereby assured of NMDPRA’s commitment to guarantee energy security,” the statement added.
This clarification comes after reports that President Bola Tinubu had approved the introduction of the 15 per cent import duty on petrol and diesel.
