The Nigerian Government has suspended the planned 15 per cent import duty on premium motor spirit (PMS) and automotive gas oil (diesel), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced on Thursday.

In a statement, NMDPRA spokesperson George Ene-Ita urged Nigerians not to panic buy fuel, assuring that there is adequate supply nationwide.

“It should also be noted that the implementation of the 15 percent ad valorem import duty on imported premium motor spirit and diesel is no longer in view,” the statement said.

The authority highlighted that the domestic supply of petroleum products—including diesel, petrol, and LPG—is robust, sourced from both local refineries and imports, ensuring that storage depots and retail stations are adequately stocked during the peak demand period.

“The Authority advises against hoarding, panic buying, or non-market reflective price increases. NMDPRA will continue to monitor the situation and take regulatory action to prevent any disruption in supply,” the statement added.

The decision comes after President Bola Ahmed Tinubu approved the 15 per cent import duty last month, intending to encourage the Dangote Refinery and strengthen local fuel production. The move, however, received mixed reactions, with some stakeholders praising it as a boost for local refining, while others warned it could increase fuel prices, worsening economic hardship for Nigerians.

NMDPRA reaffirmed its commitment to energy security, appreciating the efforts of all stakeholders in ensuring a smooth and uninterrupted supply and distribution of petroleum products across the country.