The Federal Government has announced a postponement in the implementation of a 15 per cent import duty on petrol and diesel, originally approved by President Bola Ahmed Tinubu in October and scheduled to take effect later this year. The review comes amid fears over market readiness and the potential for further inflationary pressures.
The policy was intended as part of the administration’s broader fiscal strategy to boost non-oil revenues and support domestic refining industries, most notably the Dangote Petroleum Refinery. However, industry groups and fuel importers raised objections to the plan, warning it could raise landing costs, reduce competition, and jeopardise supply—especially with the holiday season approaching.
In a statement, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said the duty’s implementation is “no longer in view” and affirmed that there is “adequate supply of petroleum products” in the country. The regulator also urged Nigerians to avoid hoarding or panic buying.
The knocked-back timeline signals an important shift. Initially set to begin from November 21, 2025, the duty would have added roughly ₦100 per litre to petrol prices according to industry estimates—raising fresh cost-of-living concerns amid Nigeria’s already elevated inflation environment.
Explaining the government’s position, a finance ministry memo noted the need for “market readiness,” highlighting that rolling out such a duty without guaranteeing refining capacity and stable supply could undermine the broader energy reform agenda. With local refining capacity still under expansion, authorities preferred to delay rather than risk supply disruption or public backlash.
