FG suspends 15% import duty on petrol, diesel, warns against panic buying

The Federal Government has suspended the 15 per cent ad-valorem import duty on imported Premium Motor Spirit (PMS), otherwise known as petrol, and Automotive Gas Oil (AGO), fondly called diesel.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced this in a statement issued by its spokesperson, George Ene-Ita, on Thursday, November 13, 2025.

President Bola Tinubu had approved the introduction of a 15 per cent import duty on petrol and diesel imports into Nigeria.

The NMDPRA, however, said the proposed implementation of the import duty “is no longer in view.”

“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 NMDPRA stated.

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The NMDPRA also assured Nigerians of sufficient petroleum product supply across the country, warning against panic buying and hoarding during the current peak demand period.

George Ene-Ita said: “There is 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 Authority wishes to use this opportunity to advise against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products.”

The Authority added that it will continue to closely monitor the supply situation and take necessary regulatory measures to prevent any disruption in the distribution chain.

The Star