The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that the earlier proposed 15 per cent ad-valorem import duty on imported Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) is no longer in view.
This was disclosed in a statement posted on the Authority’s official X (formerly Twitter) handle on Thursday by George Ene-Ita, the Director of Public Affairs Department, NMDPRA.
“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,” Ene-Ita stated.
Earlier, PUNCH Online had reported that President Bola Tinubu had approved the introduction of the 15 per cent import duty on petrol and diesel, sparking widespread public concern over potential fuel price increases.
The NMDPRA, however, reassured Nigerians of adequate petroleum supply across the country during the current peak demand period, noting that both local refineries and imports are ensuring stable product availability.
“There is a robust domestic supply of petroleum products (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,” the statement added.
The Authority further warned against panic buying, hoarding, or arbitrary price hikes, urging marketers to maintain normal market operations.
It also pledged to monitor the market closely and take necessary regulatory actions to prevent disruptions in the supply and distribution chain.
“While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring a smooth and uninterrupted supply and distribution, the public is hereby assured of NMDPRA’s commitment to guarantee energy security,” the statement concluded.
