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FG Halts Planned 15% Import Duty on Diesel, Petrol
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), on Thursday, announced discontinuation of the planned 15 per cent duty on imported petroleum products.
NMDPRA’s Director, Public Affairs Department, George Ene-Ita, conveyed the development in a statement while warning the public to shun panic buying.
President Bola Tinubu, on October 29, approved an import tariff on petrol and diesel, a policy expected to raise the landing cost of imported fuel.
The President’s approval was conveyed in a letter signed by his Private Secretary, Damilotun Aderemi, following a proposal submitted by the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji.
The proposal 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.
Implementation was slated to take effect on November 21, 2025.
The policy aimed to protect and promote local refineries like the Dangote Refinery and modular plants by making imported fuel more expensive.
While intended to boost local production, it is also expected to increase fuel costs, which could lead to higher inflation and transportation prices for consumers.
Experts have argued that the move could translate into higher pump prices for consumers, with some estimating an increase of up to N150 per litre or more.
In an update, however, NMDPRA said the government was no longer considering going ahead with implementing the petrol import duty.
“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,” the statement read in part.
Meanwhile, the NMDPRA also assured all that there is an adequate supply of petroleum products in the country, within the acceptable national sufficiency threshold, during this peak demand period.
“There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period.
“The Authority wishes to use this opportunity to advise against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products.
“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.
“While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring a smooth and uninterrupted supply and distribution, the public is hereby assured of NMDPRA’s commitment to guarantee energy security,” the statement added.
World-renowned boxer Anthony Joshua on Monday survived a ghastly road accident in Makun, Ogun State.
Eyewitnesses report that the incident occurred along a busy highway of the Lagos-Ibadan expressway.
The vehicle carrying Joshua, a Lexus Jeep with the number plate, KRD 850 HN, reportedly collided with a stationary truck under circumstances that are still being investigated.
Joshua reportedly sustained minor injuries, while two persons were said to have died on the spot.
Former Vice President Atiku Abubakar has cautioned that any attempt to hurriedly re‑gazette Nigeria’s new tax laws could undermine parliamentary oversight and set a dangerous constitutional precedent.
Atiku’s warning follows public scrutiny over reports that the Tax Reform Acts signed by President Bola Tinubu differ from the versions passed by the National Assembly. Lawmakers, including Abdussamad Dasuki, raised concerns that the alterations could pose serious legal and constitutional risks, noting that they were not backed by any constitutional framework.
In a statement on X, Atiku said the directive to re-gazette the Acts effectively confirms “that the gazetted version of the Tinubu Tax Act does not reflect what was duly passed by the National Assembly,” calling it “a grave constitutional issue.”
He emphasized that under Section 58 of the 1999 Constitution, a bill only becomes law after passage by both chambers, presidential assent, and gazetting.
“Gazetting is merely an administrative act of publication. It does not create, amend, or validate a law,” Atiku said, adding that any post-passage insertion, deletion, or modification without legislative approval constitutes forgery rather than a clerical error.
Atiku further warned that rushing a re-gazetting while legislative investigations are ongoing “undermines parliamentary oversight and sets a dangerous precedent,” stressing that the only lawful approach is “fresh legislative consideration, re-passage by both chambers, fresh presidential assent, and proper gazetting.”
The former vice president clarified that his position is not opposition to tax reform but a defence of constitutional order.
“This is a defence of the integrity of the legislative process and a rejection of any attempt to normalise constitutional breaches through procedural shortcuts,” he said.
The Federal government has denied wrongdoing, insisting the laws will take effect as scheduled on January 1, 2026, while the National Assembly has directed the issuance of Certified True Copies of the Acts to ensure clarity and accuracy.
Barring unforeseen circumstances, the Labour Party (LP) Presidential Candidate in the 2023 elections, Mr. Peter Obi, is set to formally join the African Democratic Congress (ADC) on December 31, 2025.
The development would put to rest months of speculation about where the former Governor of Anambra State would pitch his tent in the coming elections.
Reports claim that Obi would be defecting with serving senators and other lawmakers elected on the platform of the LP, as well as remnants of the Peoples’ Democratic Party (PDP) in the South East region.
Specifically, Obi would be defecting alongside the Senator representing Anambra Central, Victor Umeh; that of Anambra North, Tony Nwoye; Abia South, Enyinnaya Abaribe; PDP chieftain Ben Obi; and members of the Obidient movement in the region.
It is not clear if the Abia State governor, Alex Otti, is part of the planned movement to the ADC.
The governor was recently approached by the PDP to join the party and re-contest his current position in 2027.
Further reports quoted Obi’s spokesperson, Valentine Obienyem, as confirming the planned defection of his boss to the ADC.
“Yes, it is true,” he reportedly said on Sunday.
Senator Umeh said the event would hold in Enugu, adding that it would involve all Obi’s supporters across the South East region.
“They will come from Abia, Anambra, Ebonyi and Imo states to join those in Enugu, where this exercise will hold on 31st December,” he reportedly added.
Sources hinted that Obi, who has not hidden his intention to appear on the ballot in 2027, would contest the presidential ticket of the ADC.
On his part, Chief Chekwas Okorie, reportedly said that the expected formal defection of Obi to the ADC is a healthy development that could reshape the thinking and permutations of the 2027 general elections.
“I imagine that he would be defecting along with most of his associates and followers. I believe that a fortified and strong ADC will add value to the opposition and assuage the general fear of a possible one-party option to Nigerians come 2027. The APC, ADC and possibly the PDP locking horns in the 2027 democratic encounter promises a vibrant and robust electioneering campaign that will provide Nigerians the required options to make informed choices in electing their preferred leaders at all levels. I imagine that the APC leadership will return to the drawing table to map out the strategy to confront the emerging challenge. Nigerians are in interesting times,” Okorie stated.
National President of Njiko Igbo Forum (NIF), Rev Okechukwu Obioha, vouched support for Obi to ensure he reaches the pinnacle of his political career. He, however, cautioned that the ADC should not compromise merit and integrity in the choice of its presidential candidate, stressing that Obi remains the “hope for the restoration of the country on the path of greatness.”
