The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the proposed implementation of the 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel) is no longer being considered.
This was contained in a statement posted on the Authority’s official X handle on Thursday by its Director of Public Affairs, George 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,” Ene-Ita stated.
Recall that President Bola Tinubu had approved the introduction of a 15 per cent ad-valorem import duty on petrol and diesel imports into the country.
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The NMDPRA, however, assured Nigerians that there is adequate supply of petroleum products nationwide, maintaining that the current stock level is within the acceptable national sufficiency threshold.
“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 read.
The Authority also cautioned against hoarding, panic buying, or arbitrary price increases, warning that it would continue to monitor the market closely to prevent disruptions in supply and distribution, especially during the current peak demand period.
While appreciating stakeholders in the midstream and downstream value chain for their continued cooperation, the Authority reiterated its commitment to ensuring energy security and stable product availability across the country.
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