Nigeria Government Suspends Planned 15% Import Duty on Petrol and Diesel to Stabilize Fuel Supply

The Nigerian government has officially suspended the planned 15 % import duty on petrol and diesel, according to a statement from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

In its statement, the regulator stated that the implementation of the duty is “no longer in view” and assured the public that adequate supplies of petroleum products are available across the country.

The decision follows concerns from industry stakeholders that the duty could increase pump prices and restrict imports, especially as the country continues to rely on imported refined products despite large domestic refining capacity.

The government’s assurance of stable supply comes ahead of a peak demand period, with the regulator warning against hoarding or panic buying and committing to monitor the supply chain closely.

This move represents a significant policy adjustment in Nigeria’s downstream sector, aimed at balancing the need for revenue reform with downstream energy stability and consumer protection.