The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the previously proposed 15 per cent ad-valorem import duty on imported Premium Motor Spirit (PMS) and Diesel will not be implemented.
In a statement on Thursday, the Director of Public Affairs at NMDPRA, George Ene-Ita, clarified that the import duty is no longer under consideration.
The Authority also assured the public that there is an adequate supply of petroleum products in the country, meeting the national sufficiency threshold during this period of high demand.
“There is a robust domestic supply of petroleum products, including AGO, PMS, and LPG, sourced from both local refineries and imports to ensure timely replenishment of stocks at storage depots and retail outlets,” the statement said.
NMDPRA advised against hoarding, panic buying, or artificial price increases, emphasizing that it will continue to monitor the supply situation closely and take regulatory measures to prevent disruptions in supply and distribution.
The Authority expressed appreciation for the efforts of stakeholders in the midstream and downstream value chain in maintaining smooth and uninterrupted distribution and reaffirmed its commitment to ensuring energy security in Nigeria.
