The Federal Government has approved the postponement of the implementation of the 15 per cent import duty on petrol and diesel until the first quarter of 2026, contrary to earlier notions that the suspension was indefinite.
The deferment, formally approved by President Bola Tinubu, was in response to a detailed request submitted by the Executive Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji, following extensive strategic consultations with key stakeholders to assess market readiness and ensure a smooth and orderly rollout of the 15 per cent import duty.
Adedeji made the request in a letter dated November 7, 2025, titled “Deferment of the Commencement of the Implementation of the Premium Motor Spirit (petrol) and Diesel Import Duty.”
The letter obtained on Thursday stressed the need to ensure that local refining infrastructure is fully prepared, technical and operational frameworks are properly aligned, and fuel supply disruptions are minimised before the levy takes effect.
The duty, originally approved on October 21, 2025, was aimed at boosting domestic refining capacity, stabilising downstream fuel prices, and promoting fair competition between imported and locally produced fuels.
Earlier on Thursday, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the suspension of the planned 15 per cent ad-valorem import duty on petrol and diesel, reversing an earlier policy move aimed at encouraging local refining and reducing dependence on fuel imports.
The NMDPRA is one of the major federal agencies assigned to enforce the tariff, ensuring compliance with the import duty structure. But a new letter confirming the deferment read that Tinubu, rather, approved the postponement of the implementation “for further review in the first quarter of 2026.”
Adedeji explained that the deferment would also create a window for government agencies to monitor local refining performance in the first quarter of 2026 and align the tariff’s rollout with verified production data and consumer price trends.
The PUNCH
