The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced the suspension of the proposed 15 percent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), commonly known as petrol and diesel.
According to the Authority, the decision is intended to stabilize the domestic energy market, maintain steady product availability, and prevent an unnecessary rise in pump prices across the country.
In a statement issued in Abuja by the Director of Public Affairs, George Ene-Ita, the NMDPRA reaffirmed that Nigeria currently maintains sufficient reserves of petroleum products to meet national demand, assuring consumers that there is no cause for panic or speculation.
Ene-Ita explained that both locally refined products and imports are being adequately sourced and distributed to ensure consistent replenishment of storage depots and retail outlets.
“There is robust domestic supply of petroleum products, including petrol, diesel, and liquefied petroleum gas, sourced from local refineries and importation, to guarantee regular stock replacement at depots and filling stations,” he said.
The Authority cautioned against panic buying, hoarding, or arbitrary increases in pump prices by marketers, emphasizing that such actions are unwarranted and capable of creating artificial scarcity.
NMDPRA further clarified that the implementation of the 15 percent ad-valorem import duty on petrol and diesel has been put on hold indefinitely, adding that this step became necessary to ensure price stability and maintain investor confidence within the downstream petroleum sector.
“The implementation of the 15 percent ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” the Authority stated.
The suspended duty was initially part of a wider tariff reform intended to encourage local refining, strengthen domestic production capacity, and gradually reduce Nigeria’s reliance on fuel importation. The plan, earlier approved by the Federal Government, had been scheduled for enforcement after a 30-day transition period.
However, in light of the potential economic implications for consumers and operators, the NMDPRA said it opted to suspend implementation while engaging relevant stakeholders on alternative measures to support the policy’s long-term objectives without disrupting market equilibrium.
The Authority reiterated its commitment to ensuring energy security, transparency, and efficiency within the midstream and downstream petroleum value chain. It assured that its monitoring teams across the country are actively overseeing supply operations, enforcing compliance with regulations, and addressing any infractions that could distort market stability.
NMDPRA also pledged continued collaboration with key institutions such as the Nigerian National Petroleum Company Limited (NNPC Ltd.), the Federal Ministry of Petroleum Resources, and other relevant agencies to sustain steady product flow across all regions.
Reaffirming its dedication to consumer protection and market fairness, the Authority urged Nigerians to remain calm and purchase products responsibly, warning that it will not hesitate to sanction any marketer found engaging in unethical practices.
The statement concluded by assuring citizens that the government remains fully committed to safeguarding energy availability, maintaining affordable access to petroleum products, and fostering a competitive environment that encourages investment and supports the nation’s economic growth.
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