President Bola Tinubu has approved the introduction of a 15 per cent ad-valorem import duty on petrol and diesel imports into Nigeria.
The initiative is aimed at protecting local refineries and stabilising the downstream market, but it is likely to raise pump prices.
In a letter dated October 21, 2025, reported publicly on October 30, 2025, and addressed to the Federal Inland Revenue Service and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Tinubu directed immediate implementation of the tariff as part of what the government described as a “market-responsive import tariff framework.”
The letter, signed by his Private Secretary, Damilotun Aderemi, and obtained by our correspondent on Wednesday, conveyed the President’s approval following a proposal by the Executive Chairman of the FIRS, Zacch Adedeji.
With the approval, the implementation of the import duty will increase the current cost of a litre of petrol and diesel between N950 and N960 per litre and N1,120 and N1,140 (diesel) in Abuja by an estimated N99.72 kobo.
This would push petrol prices to over N1,000 per litre for the majority of filling stations which rely on importers when implemented.
Recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority show that total PMS supply for August 2024 and October 2025 stood at 21.68 billion litres. The report indicated that only 6.67 billion litres of petrol, or 31 per cent, are sourced from local refineries (Dangote Refinery), while 15.01 billion litres, which represent 69 per cent, are imported.
