The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that the proposed 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) will no longer be implemented.
The Authority made this known in a statement posted on its official X handle on Thursday and signed by its Director, Public Affairs Department, George Ene-Ita.
According to Ene-Ita, “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.”
This clarification follows reports that President Bola Tinubu had earlier approved the introduction of a 15 per cent ad-valorem duty on petrol and diesel imports as part of fiscal measures for the petroleum sector.
The NMDPRA also assured Nigerians that there is no cause for concern over fuel availability, stressing that the country currently maintains adequate supply within acceptable national sufficiency levels.
“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.
Ene-Ita further appealed to marketers and consumers to resist panic buying or hoarding of petroleum products, warning that such actions could trigger unnecessary scarcity or artificial price hikes.
“The Authority will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruption of supply and distribution of petroleum products across the country, especially during this peak demand period.”
“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.
