The Nigerian government has announced that it will no longer implement the planned 15 % import duty on petroleum products, including petrol and diesel. The decision was disclosed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in a statement that also urged the public not to panic‑buy or hoard fuel.
The import duty had been approved by President Bola Tinubu in October to protect and promote local refineries by making imported fuel more expensive. It was slated to take effect on 21 November 2025 and was expected to raise fuel costs, potentially driving up inflation and transportation prices for consumers. Experts warned that the measure could lift pump prices by as much as ₦150 per litre or more.
By halting the duty, the NMDPRA aims to relieve consumers and businesses that depend on fuel for their operations. The authority assured the public that there is an adequate supply of petroleum products in the country, sourced from both local refineries and imports. It warned against hoarding and non‑market‑reflective price escalations, and pledged to continue monitoring the supply situation and taking regulatory actions to prevent disruptions in supply and distribution.
The move underscores the government’s effort to balance the promotion of local industry with the need to protect consumers from rising fuel costs. The NMDPRA’s commitment to guaranteeing energy security and ensuring a smooth, uninterrupted supply of petroleum products is a positive development for the economy.
In the broader context of the global energy market, the decision is noteworthy. With oil prices falling due to U.S. inventory builds and shifts in OPEC forecasts, the Nigerian government’s action appears to respond to changing market dynamics. As the country navigates the complexities of the energy sector, the NMDPRA’s decision is likely to have significant implications for consumers, businesses, and the overall economy.
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