The Federal Government on Thursday suspended the implementation of the proposed 15% import tax on petrol and diesel.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the suspension of the tax in a statement in Abuja.
NMDPRA Director, Public Affairs Department, George Ene-Ita, signed the statement.
He assured Nigerians that there will be an adequate supply of petroleum products in the country during the peak demand period of the incoming yuletide.
The authority advised members of the public against hoarding, panic buying, or other non-market-driven escalation of petroleum prices.
Recalled that President Bola Tinubu had approved a 15 per cent import duty on diesel and petrol on October 21, 2025.
The approval followed the FIRS requested that the 15 per cent duty be applied to the cost, insurance, and freight (CIF) to align import costs with domestic realities.
(vitalnewsngr.com)
