FG suspends planned 15% fuel import duty

In response to widespread concerns over potential price hikes and rising inflation, the Federal Government has halted the implementation of a 15% import duty on Premium Motor Spirit (PMS) and diesel.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed the suspension in a statement from its Director of Public Affairs, George Ene-Ita.

The policy, originally approved by President Bola Tinubu in October 2025, was intended to align import costs with local production and bolster the growth of domestic refineries.

The duty was proposed by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, who argued it would create a fairer market.

He stated the goal was to strengthen local refining, encourage transactions in the local currency, and ensure a stable supply of affordable petroleum products.

The measure was described as “corrective, not revenue-driven,” aimed at closing the price gap between imported and locally refined fuel.

Despite these intentions, the plan faced strong criticism from oil and gas industry stakeholders.

They warned it would lead to higher pump prices, increased import costs, and worsened inflation, especially while domestic refineries are still increasing their production capacity.

The NMDPRA has now stated that the duty implementation “is no longer in view,” assuring the public of adequate fuel supplies from both local refineries and imports.

Ene-Ita cautioned fuel marketers against hoarding or arbitrarily increasing prices, emphasizing that the Authority will closely monitor the supply chain to prevent disruptions.

This suspension highlights the government’s ongoing effort to balance fuel price stability with its long-term goal of achieving self-sufficiency through local refining projects like the Dangote Refinery and modular plants.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled:  Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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