Imported petrol, diesel will attract 15% duty
President Bola Tinubu
• Aims at strengthening the naira.
President Bola Tinubu has authorised a 15 per cent ad valorem import duty on all petrol and diesel brought into Nigeria, a move designed to strengthen domestic refineries and steady the downstream petroleum market.
The directive, issued through a presidential letter dated 21 October 2025 and made public on 30 October, was addressed to both the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Signed by the President’s Private Secretary, Damilotun Aderemi, the letter confirmed Tinubu’s approval of a proposal submitted by FIRS Executive Chairman, Zacch Adedeji.
Adedeji’s proposal sought to apply a 15 per cent duty on the cost, insurance and freight (CIF) value of imported petrol and diesel. The policy, he explained, aligns with the government’s “market-responsive import tariff framework” — part of ongoing reforms under the Renewed Hope Agenda aimed at bolstering local refining, enhancing price stability and strengthening the naira-backed oil economy.
According to Adedeji, “the core objective is to operationalise crude transactions in local currency, reinforce domestic refining capacity, and guarantee a stable and affordable fuel supply nationwide.”
The FIRS boss cautioned that disparities between import parity pricing and domestic production costs have destabilised the market, undermining emerging refiners.
“While diesel sufficiency has been achieved and local petrol output is improving, price instability persists because of misalignment between refiners and marketers,” he wrote.
He argued that the new tariff would “discourage duty-free fuel imports from undercutting local producers” and help create a fair, competitive downstream market.
