The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has declared that the proposed enforcement of a 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) will no longer proceed as initially contemplated.
In a communiqué released via its official X (formerly Twitter) handle on Thursday, the Authority’s Director of Public Affairs, George Ene-Ita, affirmed that the policy, which had been earlier sanctioned by the Federal Government, is “no longer in view.”
This clarification follows reports that President Bola Tinubu had previously endorsed the introduction of a 15 per cent import duty on petrol and diesel, a move that was expected to influence fuel pricing and importation patterns within the nation’s petroleum sector.
The NMDPRA, however, reassured the public of the stability of domestic petroleum supply, stressing that current reserves of PMS, AGO, and Liquefied Petroleum Gas (LPG) remain within acceptable national sufficiency thresholds, even amidst a period of heightened demand.
According to the statement, Nigeria presently enjoys a robust and diversified fuel supply chain, sourced from both local refining capacities and imported consignments, thereby ensuring the uninterrupted replenishment of depots and retail outlets across the federation.
The Authority cautioned marketers and consumers alike against panic buying, hoarding, or arbitrary price escalation, warning that such actions would contravene market integrity and potentially destabilize the downstream segment. It reiterated that regulatory surveillance mechanisms have been reinforced to forestall any disruption to the supply and distribution framework.
While commending the collaborative efforts of stakeholders across the midstream and downstream value chains, the NMDPRA reaffirmed its unwavering commitment to safeguarding national energy security and sustaining seamless availability of petroleum products nationwide.
