Tinubu approves 15% import duty on petrol and diesel

President Bola Tinubu has approved the introduction of a 15 percent ad-valorem import duty on premium motor spirit (PMS), commonly known as petrol, and automotive gas oil (AGO), also known as diesel

The approval was contained in a letter dated October 21, 2025, signed by Damilotun Aderemi, the President’s Private Secretary, and 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 from the FIRS seeking to impose the duty on the cost, insurance, and freight (CIF) value of imported petrol and diesel. The agency explained that the move aims to align import costs with current domestic economic realities.

“The President has approved the application of 15 percent ad-valorem import duty on the cost, insurance, and freight (CIF) value of imported diesel and premium motor spirit (PMS),” the letter stated.

The new tariff is projected to raise the landing cost of petrol by about ₦99.72 per litre, a development that could lead to an increase in pump prices nationwide.

As of the time of this report, both the NMDPRA and FIRS have yet to release official statements specifying when the new duty will take effect.

Follow Us on Facebook – @LadunLiadi; Instagram – @LadunLiadi; Twitter – @LadunLiadi; Youtube – @LadunLiadiTV for updates