Tinubu approves 15% import duty on Petrol, Diesel

President Bola Ahmed Tinubu has given the green light for a 15 percent import duty on Premium Motor Spirit (PMS), known as petrol, and Automotive Gas Oil (AGO), or diesel.

This decision, communicated in a letter dated October 21, 2025, from the President’s private secretary, Damilotun Aderemi, was directed to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

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As reported by different outlets, the FIRS made the request for this adjustment to align import costs with the current domestic situation. With the President’s approval, the 15 percent duty will now be added to the cost, insurance, and freight (CIF) value of imported fuel products.

Economic experts are cautioning that this new import duty could lead to an increase in the pump price of petrol by approximately ₦99.72 per litre, which may exacerbate the financial burden on consumers.

The recent development has ignited a public discussion, with many critics questioning the timing of the policy given the ongoing inflation and stagnant wages.

At the same time, opposition leaders, including Chief Eze Chukwuemeka Eze from the Peoples Democratic Party (PDP), have criticized the Tinubu administration for what they call “anti-people economic policies.” They’ve pointed to recent issues surrounding presidential pardons granted to those convicted of drug offenses as a key concern.

In a statement, Eze called on the Federal Government to focus on policies that ease the struggles of citizens instead of making their situation worse with higher taxes on essential items like fuel.

At the time of reporting, both the FIRS and NMDPRA were said to be finalizing plans for the prompt implementation of the new import duty directive.