The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) yesterday announced the cancellation of the 15 per cent ad-valorem import tariff on imported petrol and diesel approved by President Bola Tinubu.
The Director of Public Affairs, NMDPRA, George Ene-Ita, made this known in a statement via the agency’s official X (Twitter) handle.
According to him, the proposed tariff is no longer under consideration. He wrote: “It should also be noted that the implementation of the 15 per cent advalorem import duty on imported Premium Motor Spirit and diesel is no longer in view.”
NMDPRA further stated that there is a robust domestic supply of petroleum products diesel, fuel and cooking gas (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.
It assured Nigerians that the supply of petroleum products remains stable and sufficient to meet national demand during the current peak consumption period.
NMDPRA also cautioned against hoarding, panic buying, or arbitrary price increases, adding that it would continue to monitor supply and take necessary regulatory steps to ensure stability in distribution nationwide.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
