Nigeria has scrapped plans to impose a 15% import duty on petrol and diesel, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The levy, previously approved by President Bola Tinubu as part of fiscal reforms to boost non-oil revenue, had sparked concerns that it could discourage imports and increase dependence on the 650,000-barrel-per-day Dangote Petroleum Refinery in Lagos. Despite the refinery’s operations, Nigeria continues to spend millions annually on fuel imports. The NMDPRA said the decision ensures adequate fuel supply through the holiday season and urged consumers to avoid panic buying. Authorities also promised to monitor the market closely to prevent disruptions during peak demand.
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