The Federal Government has suspended the implementation of the proposed 15 percent import duty on petrol and diesel, earlier scheduled to take effect on November 21, 2025.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the decision in a statement on Thursday, saying the policy is “no longer in view.”

According to the agency, the planned duty which was to be applied on the cost, insurance, and freight (CIF) value of imported petroleum products had aimed to encourage local refining and reduce Nigeria’s dependence on fuel imports.

“The implementation of the 15 percent import duty is no longer in view,” the statement read. “The Authority assures the public of adequate supply of petroleum products across the country and advises against panic buying or hoarding.”

The duty, approved by President Bola Tinubu in late October, was expected to increase the landing cost of imported petrol and diesel, potentially leading to higher pump prices. Its suspension, however, is seen as a move to cushion the impact on consumers amid rising inflation and living costs.

Experts say the reversal reflects the government’s balancing act between promoting local refining particularly with the coming on stream of the Dangote Refinery and protecting Nigerians from further fuel price hikes.

Meanwhile, the NMDPRA reaffirmed its commitment to ensuring stable fuel supply and maintaining market stability as the government continues to reform the downstream oil sector.