The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has stated that the proposed implementation of the 15 per cent of valorem import duty on imported petroleum products (petrol and diesel) is no longer going to be implemented.
The regulator advised members of the public to eschew panic-buying as the nation had enough petrol in stock.
According to a statement posted on its X handle earlier today, the Director, Public Affairs Department, NMDPRA, George Ene-Ita, while assuring of adequate supply of products by the Authority, said: “It should also be noted that the implementation of the 15 per cent ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view.”
The statement said the Authority will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruption of supply and distribution of petroleum products across the country, especially during this peak demand period.
