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The Federal Government has put on hold its plan to introduce a 15 per cent import duty on petrol and diesel, a move that had generated public outrage and fears of another round of fuel price hikes.
In a dramatic U-turn, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the suspension on Thursday, saying the policy is “no longer in view.”
The announcement came through a statement by George Ene-Ita, the Director of Public Affairs at the NMDPRA, who also warned Nigerians against panic buying or hoarding fuel.
The controversial policy, approved by President Bola Ahmed Tinubu on October 29, 2025, and scheduled to take effect on November 21, 2025, was designed to make imported fuel costlier and promote local refineries like Dangote Refinery and modular plants.
But experts and citizens alike warned it would worsen inflation, push fuel prices up by as much as ₦150 per litre, and cripple households already battling economic hardship.
In a clear retreat, the NMDPRA said: “It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view.”
The agency assured Nigerians that the country has sufficient fuel reserves and urged against panic buying.
“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,” the statement added.
It also cautioned fuel marketers against hoarding or hiking prices, saying it will closely monitor the market to maintain stability, especially during this peak demand period.
NMDPRA concluded with an assurance that it remains committed to “guaranteeing energy security and uninterrupted fuel supply across the nation.”
