The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed that the planned 15 per cent ad-valorem import duty on imported Premium Motor Spirit (PMS) and Diesel will no longer be implemented.
In a statement released on Thursday via its X handle, NMDPRA’s Director of Public Affairs, George Ene-Ita, clarified, “It should 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.”
The authority also assured the public that the country currently has a sufficient supply of petroleum products to meet demand. “There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc.) sourced from both local refineries and imports to ensure timely replenishment at storage depots and retail stations during this peak demand period,” the statement read.
NMDPRA warned against hoarding, panic buying, or artificial price increases, emphasizing its commitment to ensuring stable fuel supply across the country. The agency pledged to monitor the situation closely and take regulatory measures to prevent disruptions in supply and distribution.
The statement concluded by acknowledging the efforts of all stakeholders in the midstream and downstream petroleum sectors and reaffirming NMDPRA’s dedication to guaranteeing energy security for Nigerians.
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