Abuja, Nigeria Nigeria has reversed its decision to implement a 15 percent import duty on petrol and diesel, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed on Thursday, urging consumers not to panic buy. The tariff had been approved by President Bola Tinubu on October 29, 2025, following a recommendation from the Federal Inland Revenue Service to levy the duty on the cost, insurance, and freight (CIF) value of imported fuel. The policy aimed to increase the landing cost of imports, protect local refineries, and boost domestic fuel production. Implementation was originally scheduled for November 21, 2025, with analysts warning that it could have raised pump prices by up to ₦150 per litre (approximately $0.10), potentially increasing transportation costs and inflation.
In a statement, NMDPRA Director of Public Affairs George Ene-Ita confirmed the suspension and said the move reflects the government’s effort to balance support for local refining with consumer price stability. Nigeria operates four major refineries and several smaller facilities, but domestic production often fails to meet demand, leading to heavy reliance on fuel imports. Experts say policies like import duties can encourage local refining but risk fuel price shocks if not carefully timed. The government continues to explore strategies to strengthen the refining sector, including incentives for private investments, while ensuring affordable fuel for households and businesses.
