Nigerian Government Suspends 15% Import Duty on Petrol and Diesel

The Nigerian government has halted plans to impose a 15% import duty on petrol and diesel to boost local refineries like Dangote Refinery. The Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) announced the suspension, emphasizing the country's adequate petroleum product supply.

The move is intended to prevent price hikes and ensure stable fuel prices for consumers. The decision comes amid concerns about potential fuel price increases and inflation.

The NMDPRA reassured the public of sufficient domestic petroleum product supply and warned against panic buying or unjustified price hikes.