The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed that the proposed 15 per cent ad-valorem import duty on petrol and diesel will no longer be implemented.

The agency made this known in a statement on Thursday through its Director of Public Affairs, George Ene-Ita, while cautioning Nigerians against panic buying of petroleum products.

Public Reassured of Sufficient Fuel Supply

According to the NMDPRA, the country currently has enough petroleum products to meet national demand.

It stated that supplies from both local refineries and imports were stable and sufficient to ensure consistent availability at fuel depots and filling stations.

“The Authority wishes to assure the public that there is adequate supply of petroleum products in the country within acceptable national sufficiency levels,” the statement read in part.

The regulatory body also warned against hoarding or arbitrary price increases, stressing that there is no need for panic purchases amid rumours of new fuel taxes.

Background of the Proposed Duty

Earlier, the Federal Inland Revenue Service (FIRS) had suggested a 15 per cent import duty on petrol and diesel to boost domestic refining and reduce dependence on imported fuels.

While some industry experts supported the proposal, saying it would encourage investment in local refining—especially as the Dangote Refinery ramps up production—others strongly opposed it.

Critics argued that the measure would raise fuel prices and worsen the current economic hardship faced by Nigerians.

Although NMDPRA did not explain why the policy was suspended, it assured citizens that it would continue to monitor fuel supply and maintain energy security across the country.