The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the proposed 15 percent ad valorem import duty on Premium Motor Spirit (PMS) and diesel will no longer be implemented.
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This clarification was made in a statement shared via the Authority’s official X handle on Thursday by its Director of Public Affairs, George Ene-Ita.
The Authority confirmed that the 15 percent ad valorem import duty on imported PMS and diesel is no longer being considered.
The development comes after reports that President Bola Tinubu had earlier approved a 15 percent ad valorem charge on the importation of petrol and diesel into the country.
NMDPRA further assured that Nigeria currently maintains sufficient stock of petroleum products, meeting the national demand level even during the ongoing high-consumption period.
The Authority, therefore, urged the public to desist from panic-buying, hoarding, or any action capable of creating artificial scarcity and price hikes.
It also reaffirmed its commitment to ensuring stability in the energy sector, adding that it will continue monitoring the supply chain to prevent any form of disruption.
NMDPRA thanked all stakeholders in the midstream and downstream sectors for their cooperation and pledged to sustain efforts toward guaranteeing uninterrupted energy supply across the country.
