FG suspends planned implementation of 15% import duty on petrol, diesel

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday, suspended the proposed implementation of a 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel).

In a statement issued on its X handle, the Director of Public Affairs, George Ene-Ita, said, “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.”

It would be recalled that President Bola Tinubu has earlier approved the introduction of the duty on petrol and diesel imports into the country.

The NMDPRA, however, assured Nigerians of adequate petroleum supply nationwide, maintaining that product availability remains within acceptable national sufficiency levels during this period of high demand.

“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,” the statement read.

Source: LEADERSHIP