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President Tinubu has approved 15% Import Duty on Petrol and Diesel as NNPCL begins refinery review.
NewsOnline Nigeria reports that President Bola Tinubu has approved a 15 percent ad-valorem import duty on diesel and Premium Motor Spirit (PMS), commonly known as petrol.
The directive was contained in a letter dated October 21, 2025, and signed by Damilotun Aderemi, the President’s Private Secretary, addressed to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
According to the letter, the decision followed a request by the FIRS to impose the 15% duty based on the cost, insurance, and freight (CIF) value of fuel imports, a move aimed at aligning import costs with current domestic market realities.
With the new import duty taking effect, analysts project that the pump price of petrol may rise by about ₦99.72 per litre.
In a related development, the Nigerian National Petroleum Company Limited (NNPCL) has announced a comprehensive review of Nigeria’s three refineries as part of efforts to restore local refining capacity.
NNPCL Group Chief Executive Officer, Bayo Ojulari, made this known in a post via his official X (formerly Twitter) account on Wednesday night, revealing that the company is considering the engagement of technical equity partners to “high-grade or repurpose” the facilities.
Providing an update tagged “Update on Our Refineries,” Ojulari stated:
“The NNPCL remains optimistic that the refineries will operate efficiently, despite current setbacks.”
The review comes amid growing public concern over rising fuel costs and Nigeria’s continued dependence on imported petroleum products despite ongoing refinery rehabilitation projects.
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