Nigeria has backed away from its earlier decision to impose a 15 percent tariff on fuel imports after intense pressure from industry players who warned the move would tighten supply and increase reliance on a single refinery. The suspension was announced by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in a statement signed by George Ene-Ita, head of public affairs.
The tariff, approved last month in a presidential memo under President Bola Tinubu, was part of broader reforms intended to boost non-oil revenue ahead of planned tax adjustments in 2026. The charge was to apply to imported petrol and diesel but has now been withdrawn following sector-wide pushback.
According to the regulator, the country currently has sufficient fuel supply from both local refineries and imports, eliminating any need for panic buying or hoarding. The authority warned against non-market-based price increases and emphasised that fuel stocks at depots and stations remain stable.
Fuel importers, however, had argued that the tariff would undermine competition and force the market to rely heavily on the Dangote Petroleum Refinery, which produces about 650,000 barrels per day. Their position was that depending on a single supplier could expose the country to price shocks and supply risks.
Nigeria, despite being Africa’s largest crude oil producer, still spends hundreds of millions of dollars annually on fuel imports, a trend that has persisted even after Dangote began processing crude last year. The regulator said it would continue to monitor supply levels closely during the current peak demand period to prevent any disruptions.
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