Follow Us on Google
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that it has halted the planned implementation of the 15 per cent duty on imported petroleum products.
The announcement was made on Thursday by George Ene-Ita, Director of the Public Affairs Department of the NMDPRA, who warned the public against panic buying.
According to Ene-Ita, the government is no longer considering going ahead with the implementation of the petrol import duty.
Other News
“It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view”, he said partly.
President Bola Tinubu had, on October 29, approved an import tariff on petrol and diesel intended to raise the landing cost of imported fuel.
It sought the application of a 15 per cent duty on the cost, insurance, and freight value of imported petrol and diesel to align import costs with domestic market realities.
