Nigerian Government Suspends 15% Import Tax on Petrol to Ensure Supply Stability

The Nigerian government has halted the proposed 15% import tax on petrol and diesel to maintain sufficient petroleum product supply during peak periods like the festive season. The decision, conveyed by Damilotun Aderemi of FIR, aligns with domestic economic realities and aims to prevent market-driven price hikes.

The move is intended to keep petrol prices stable at around 99.72 kobo per liter. The NMDPRA reaffirmed its commitment to ensuring uninterrupted petroleum product supply.