Nigerian Government Suspends 15% Import Duty on Petrol and Diesel

The Nigerian government has yielded to pressure and suspended the 15% import duty on petrol and diesel to maintain fuel supply stability and prevent price inflation. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the decision, emphasizing the robust domestic fuel supply from local refineries and imports.

The move aims to address concerns over rising fuel costs and ensure continued access to petrol and diesel across the country. The decision has sparked varied reactions, with some supporting the boost to local refineries while others fear exacerbating fuel expenses.