FG shelves proposed 15% import tariff on fuel
Fuel Station
President Bola Ahmed Tinubu, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), today said the federal government is no longer considering implementing the controversial 15 per cent duty on imported petroleum products.
The development was announced by the Director, Public Affairs Department, NMDPRA, George Ene-Ita, in a statement while warning the public to shun panic buying.
Recall that Tinubu, on October 29, 2025, approved an import tariff on petrol and diesel, a policy expected to raise the landing cost of imported fuel.
The president’s approval was conveyed in a letter signed by his Private Secretary, Damilotun Aderemi, following a proposal submitted by the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji.
The proposal sought the application of a 15 per cent duty on the cost, insurance, and freight value of imported petrol and diesel to align import costs with domestic market realities.
Implementation was slated to take effect on November 21, 2025.
The policy aimed to protect and promote local refineries like the Dangote Refinery and modular plants by making imported fuel more expensive.
While intended to boost local production, it is also expected to increase fuel costs, which could lead to higher inflation and transportation prices for consumers.
The presidential approval was subsequently trailed by public outcry, with experts arguing that the move could translate into higher pump prices for consumers, with some estimating an increase of up to ₦150 per litre or more.
In an update, however, NMDPRA said the government was no longer considering going ahead with implementing the petrol import duty.
